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Irving Kahn, who was born on December 19, 1905, is an American investor and funds manager. He was educated in New York and later served as a teaching assistance to Benjamin Graham at Columbia Business School. Graham himself was credited as being the creator of value investing methodology. Benjamin Graham had influence on Kahn and others who eventually became investors. One of them is Warren Buffet.
Kahn has had numerous experiences in many fields. He’s a Chartered Financial Analyst, a former director, a former president of an institution and a trustee emeritus of a foundation. He’s still Chairman of Kahn Brothers Group, Inc. Kahn started his career in 1928 and has remained active till now. So he’s currently the oldest funds manager the world over. His first trade in 1929 was a short position, which was made shortly prior to the notorious market crash in October that year. On December 19, 2011, Irving Kahn became 106 years old. He said he still derives pleasure from speculation, though he told CNN Money (money.cnn.com) that he no longer watches the stock market zealously even though he’s a streaming terminal on his desk. He still watches the 20 stocks he is holding. Kahn has witnessed much technological advancement, apart from changes in the financial industry since the beginning of his career.
Lesson
One of the peerless benefits in trading and investing is that there’s no compulsory retirement age (unlike most other professions). Trading and investing is a journey of a lifetime, not a short stint. It’s a marathon, not a sprint.
Besides, the older you become, the more skilled, the more experienced, the more relevant, and the more judicious you’ll be as a trader or investor. There’s indeed financial freedom in trading, but it’s a long-term objective. Things that would last usually come slow and steady. Irving Kahn is a living proof that permanent success can be derived from trading and investing. We’ll always be inspired by successful traders. If they can do it, we can do it too. There are trading styles that lead to abortive trading careers, and there are trading styles that lead to permanently successful trading careers. Those who quit trading have really not found the secrets of everlasting triumph in the markets – no matter what they claim to be (or to have been).
This article is ended with a quote from Irving; it’s what he said in an interview:
“Well when I got to the Street in ’28/’29 it was much more of a rich man’s game – not that I was rich, but I mean it was designed for banks, insurance companies, railroads or public utilities. It is no longer a rich man’s business. It’s a business for everybody.”
