Irving Kahn was born on December 19th, 1905

Written by: Grace Lee

Irving Kahn: The Oldest Living Active Investor

Irving Kahn was a legendary American investor and philanthropist, renowned for being the oldest living active investor on Wall Street. With a career spanning over 85 years, Kahn was a pioneer in value investing, a methodology popularized by his mentor, Benjamin Graham.

Early Life and Education

Kahn was born on December 19, 1905, in New York City to Mamie (née Friedman) and Saul Henry Kahn. He attended the City College of New York and later served as the second teaching assistant to Benjamin Graham at Columbia Business School. This experience would have a profound impact on Kahn's investment career, shaping his approach to value investing.

Career Highlights and Major Works

Kahn began his investment career in 1928, making his first trade – a short sale of a copper mining company – in the summer of 1929, just months before the infamous market crash. This early experience laid the foundation for his successful investment strategy. In 1978, Kahn founded Kahn Brothers Group, Inc., a privately owned investment advisory and broker-dealer firm, with his sons, Thomas and Alan.

Throughout his career, Kahn was a Chartered Financial Analyst and among the first round of applicants to take the CFA exam. He was also a founding member of the New York Society of Security Analysts and the Financial Analysts Journal. Kahn served as a director of several companies, including Teleregister Corp., Hugo Stinnes Co., Grand Union Stores, Kings County Lighting, West Chemical, and Willcox & Gibbs.

Philosophical Contributions and Beliefs

Kahn's investment philosophy was deeply rooted in the principles of value investing, which emphasizes buying undervalued companies with strong fundamentals. He believed in adopting a long-term approach, ignoring short-term market fluctuations, and focusing on the intrinsic value of a company. Kahn's investment strategy was characterized by discipline, patience, and a deep understanding of the companies he invested in.

Personal Milestones and Key Life Events

Kahn's life was marked by several significant milestones. He named his third son, Thomas Graham, after his mentor, Benjamin Graham, a testament to the profound impact Graham had on his life. Kahn continued to work until his death, remained intellectually curious, and maintained a strong physical health, celebrating his 108th birthday in 2013.

Legacy and Impact

Irving Kahn's remarkable career and investment philosophy have inspired generations of investors. His legacy extends beyond his impressive investment track record to the countless lives he touched through his philanthropic work. Kahn's commitment to education and women's empowerment is evident in his role as a trustee emeritus of the Jewish Foundation for Education of Women.

Kahn's story serves as a beacon of inspiration, demonstrating the power of discipline, hard work, and a passion for lifelong learning. As we reflect on his remarkable life, we are reminded of the importance of living with purpose, integrity, and a commitment to making a positive impact on the world.

Quotes and Memorable Sayings

• "I don't have to be right. I just have to be less wrong than the other guy."

Irving Kahn's quotes offer a glimpse into his humble and pragmatic approach to investing, emphasizing the importance of humility and a willingness to learn from mistakes.