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Uncovering the Paternity of the Hedge Fund Industry in the Museum’s Collection

Kristin Aguilera | April 26, 2012
Graham and Newman, 1959

Benjamin Graham (right) and Jerry Newman, 1959.

 

For the past few months I have been a guest contributor to Bloomberg’s Echoes blog, which is edited by historian Stephen Mihm and focuses on the history of business and finance.  While most of my columns have tied in with significant anniversaries or events in financial history, for this week’s post I was invited to instead write an article on one of the Museum’s collections.

I have several favorite collection items, but I chose to focus on the Graham-Newman Collection.  It’s a fascinating archive of business documents, personal correspondence, rare first edition books and personal effects belonging to Warren Buffett’s mentor and the father of value investing, Benjamin Graham, and his business partner, Jerry Newman.

And, as I assert in my article, within this collection may lie the answer to the on-going debate over the origins of the hedge fund industry.

To learn more, read “What Was the Very First Hedge Fund? Ask Warren Buffett.”

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Alfred Winslow Jones, Ben Graham, Carol Loomis, finance, financial history, Graham-Newman, hedge fund, Jerry Newman, museum of american finance, mutual fund, Warren Buffett
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On Exhibit Now: Tracking the Credit Crisis

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This exhibit brings attention to the budget issues that faced five of our greatest Presidents: George Washington, Andrew Jackson, Abraham Lincoln, Woodrow Wilson and Franklin D. Roosevelt. It details how they handled those issues, sometimes with spectacular success and other times with controversial or mixed results. The exhibit also shows how each President’s life experiences, including personal wealth, may have influenced decisions on important issues like the rate and type of taxation and the acceptable extent of government borrowing

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