Define Niche Marketing Biography
In recent years, Graham's "Mr. Market" approach has been challenged by Modern Portfolio Theory (MPT), which is based on the hypothesis of efficiency of financial markets. A popular proponent of MPT is, for example, William J. Bernstein, whose book The Intelligent Asset Allocator extends Graham's The Intelligent Investor via an appreciation of long-term trends and the near impossibility of understanding the market at large. Modern Portfolio Theory, which is widely taught in American and British business schools, posits that it is generally impossible for any individual to consistently outwit the market, thus denying the possibility of any distinction between "market price" and "value" of a security.
Nevertheless, Graham's approach retains a widespread and dedicated following and has demonstrated historical success in terms of investment returns. Indeed, numerous academic studies, including "Contrarian Investment, Extrapolation, and Risk",[8] "Good news for value stocks: Further evidence on market efficiency",[9] "The Cross Section of Expected Stock Returns",[10] and many others, have demonstrated that value stocks have outperformed growth stocks and the market in general over virtually all multi-year periods.
According to Warren Buffett, Graham said that he wished every day to do something foolish, something creative, and something generous.[11] Buffett said that Graham excelled most at the last.[12]Even though the following statements are mentioned in The Snowball (a biography of Warren Buffett), they were not said by Buffett and the author (Alice Schroeder) does not include any sources for these statements. According to The Snowball, after his son's death, Graham had an affair with his deceased son's girlfriend (Marie Louise Amingues) who was several years older to his son[13], and used to travel to France frequently to visit her. He later separated from his wife Estey in New York, after she refused his offer of living in New York for six months and France for six months. Marie Louise was content to live with Graham without marriage.[14]
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
Define Niche Marketing
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