Tags: irving kahn | investor | dies | 109

Irving Kahn, Still-Active Investor Who Weathered 1929 Crash, Dies at 109

By    |   Friday, 27 Feb 2015 03:47 PM

Irving Kahn, a New York investor who went through the 1929 Wall Street Crash, the Great Depression, and other significant stock exchange events through the 21st century, died Tuesday at the age of 109.

Kahn began his investment career in the 1930s, working for Benjamin Grahm as a teaching assistant at Columbia University, the Kahn Brothers Group Inc. website said. Principals at the privately owned company manage about $1 billion in institutional and private funds.

At 108 years old, Kahn was still working, Bloomberg reported, spending three days every week in the firm’s New York office. His son, Thomas Kahn, is the firm’s president, and his grandson Andrew Kahn serves as vice president and research analyst.

Kahn shared with The Telegraph in a 2014 interview how he doubled his money during the 1929 Wall Street crash.

“In the feverish summer of 1929, speculation ‘had driven up prices to unreasonable levels,’ he said. So he decided that the way to make money was to ‘short-sell’ a particular share, meaning he would profit from a fall, not a rise, in the price,” The Telegraph said.

Although he started in the business taking the risks associated with short-selling, Kahn quickly adapted to a strategy that avoided borrowing and focused on finding good companies that were undervalued in the market, Kahn told The Telegraph.

“I invested conservatively and tried to avoid leverage. Living a modest lifestyle didn’t hurt, either,” he said, explaining to the British newspaper that Graham’s influence was responsible for that. Graham is known as the inventor of value investing.

Bloomberg said Kahn and his three siblings were studied as part of the Longevity Genes Project, because they were “SuperAgers,” people who lived past 95 without significant disease or dementia. One of Kahn’s sisters lived to just before her 110th birthday, another to 101, and a brother to 103.

Many went online to show their respect for Kahn:



Related Stories:

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
TheWire
Irving Kahn, a New York investor who went through the 1929 Wall Street Crash, the Great Depression, and other significant stock exchange events through the 21st century, died Tuesday at the age of 109.
irving kahn, investor, dies, 109
369
2015-47-27
Friday, 27 Feb 2015 03:47 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved