Kellogg Professor Recognized For Value Investing Prowess
The following article was originally sourced from the piece “Value Valued” on Kellogg’s News & Events page.
Professor Ravi Jagannathan of the Kellogg School of Management has been named a winner of the Graham & Dodd, Murray, Greenwald Prize for Value Investing for 2013.
Presented by Gabelli Funds in conjunction with Columbia University Graduate School of Business, it recognizes contributions to the field of value investing. Jagannathan, along with co-recipient William Simon of the UCLA Anderson School of Management, will receive the award May 16 in New York City.Value investing involves recognizing and evaluating potential investment opportunities while considering that for every security you buy or sell there is another investor in the market who is taking the opposite position. Or you could just simply be wrong in your investment.
“There are a number of investors watching the market, and their collective knowledge is reflected in prices” Jagannathan said. “The market is generally efficient and it is difficult beat the market. You need a process for evaluating why you may be right and all others in the market are wrong. Value investing provides one such process.”
Jagannathan teaches an investing course that looks at the value-investing structure and its evolution from its formulation by Benjamin Graham and David Dodd during the Great Depression to modern day moguls like Warren Buffett and beyond.
“While my course will introduce you to the principles of value investing, it cannot teach you to be an extraordinarily successful investor,” Jagannathan said.
“No course can. Value investing can take many forms, and if you are to be a successful value investor, you have to invest the necessary time and effort and develop your own style. Buffett did not become great by mimicking his mentor, Ben Graham.”
