Warren Buffett had success written all over him at a young age, but his investment strategy began to take shape only after he met the value investor Benjamin Graham. Buffett initially embraced Graham’s strict value investing strategy by looking at companies in a quantitative manner and trying to buy companies for the equivalent of 50 cents on the dollar. Buffett’s contribution to the concept of value investing was to find highquality companies selling at a discount and to let the moat around these companies protect his investment, enabling him to hold them for his favorite holding period—forever.
