The Study And Review On Benjamin Graham's International Economy And Trade Theory

This thesis introduces the theory of value investing and the concept of commodityreserve, which are developed by the dean of Wall Street—Benjamin Graham. Andappraise his contributions to the theory of international economy and trade. Thencombined with the fact of China, we discuss the model significance of themseparately.The body of this thesis is devised into five parts: Part one gives an introduction ofBenjamin Graham in a whole. Part two describes his theory of value investing whichmanifests in "Security Analysis" and "The Intelligent Investor ". Part three introducesthe concept of commodity reserve, which is embodied on the other twobooks—"Storage and Stability: A Modern Ever-Normal Granary" and "WorldCommodities and World Currency". Part four evaluates his contributions to the theoryof international economy and trade. He is the founder of the theory of value investing,and the first man who develop the commodity reserve currency. Part five discuss themodel significance combined the conditions of China: Graham's theory can helpChinese investors set up the correct investment idea;and the commodity reserve planhelp to stabilize the price and then the foundation of the system of macroeconomicregulation and control.