Roger Murray (1911-1998) was a crucial figure in the history of value
investing. A financial professional, economist, advisor to members of
Congress, and educator, Murray was the successor to the legendary
Benjamin Graham as professor of the securities analysis course at
Columbia Business School. There, he mentored generations of students,
including Mario Gabelli, Charles Royce, Leon Cooperman, Art Samberg, and
Robert Bruce.
This book offers a compelling account of Murray's multifaceted career
alongside a series of remarkable lectures he gave late in his life that
encapsulated his philosophy of investing. The investing professionals
and educators Paul Johnson and Paul D. Sonkin chronicle Murray's life
and accomplishments, capturing his professional triumphs, theoretical
insights, and lasting legacy. They highlight Murray's educational
philosophy and mentorship, including personal recollections from his
students about his teaching and influence.
The Enduring Value of Roger Murray features the transcripts of four
lectures Murray gave in 1993, hosted by Gabelli, which became legendary
in the investing community. These lectures inspired Bruce Greenwald to
ask Murray to co-teach a security analysis course, leading to the
resurrection of value investing education at Columbia Business School,
which had waned after Murray's retirement in 1977. Annotated by Johnson
and Sonkin, these lectures are now available to a wide audience for the
first time. They will be illuminating and instructive for value
investing students and practitioners today.
