Irving Kahn, a renowned veteran investor, offers many valuable lessons to young traders with his reliable strategies. Despite being over a century old, Kahn remains active in the trading world and has a wealth of valuable experience to share.
Irving Kahn's Long Journey
Irving Kahn began his career in the trading world in the 1920s, before the crash on Wall Street. Over nearly 90 years of involvement in the investment world, Kahn has experienced various significant events such as the Great Depression of the 1930s, World War II, and the modern financial crisis. His experiences have shaped his strong investment strategies.
Primary Strategy: Ignoring Market Speculation
Kahn emphasizes the importance of ignoring market speculation. When speculators dominated the stock market in the 1920s, Kahn realized that such conditions could not last forever. He began short-selling stocks that he deemed to have reached unreasonable prices. This decision brought him nearly double profits when the stock market crashed.
Learning from Historical Events
Kahn compares the crash on Wall Street in 1929 with the modern financial crisis. He highlights important differences, including the lack of market regulation and legal protection at that time. After the depression era passed, Kahn shifted to an investment strategy by buying undervalued company stocks, following the principle of 'intrinsic value' of a stock that he learned from Benjamin Graham.
Advice for Current Traders
Kahn advises traders to avoid excessive and uncontrolled leverage, which can lead to speculation. For him, maintaining the initial capital is the most important thing. He warns that large leverage can trigger overtrading and ultimately lead to significant losses.
Irving Kahn is an inspirational example for traders, both young and experienced. By ignoring market speculation and learning valuable lessons from history, Kahn has proven that success in investment does not always depend on external factors. That is what makes him one of the leading investors in the history of financial markets.
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