Thomas G. Kahn, CFA, is President at Kahn Brothers Group, Inc.; President, CIO and Lead Portfolio Manager at Kahn Brothers Advisors LLC; and President at Kahn Brothers LLC. He is on the board of directors of JBI International, Inc., Lighthouse Guild, Ackerman Institute for the Family and American Federation for Aging Research.
Mr. Kahn has over 48 years of industry experience and is a leading practitioner in the field of value investing. Mr. Kahn co-founded Kahn Brothers Advisors in July 1978. He received a B.A. from Cornell University and an MBA from New York University’s Stern School of Business.
In this exclusive 3,362 word interview, Mr. Kahn identifies the source of his wealth building wisdom:
“My middle name is Graham, and I am named after Benjamin Graham, who was a good friend of my father. What we do is we basically study companies. Frequently, we talk to management, visit conferences, etc. And if we find a security that meets our value standards, we buy it.
And what we do is a little different than a lot of other firms because we eat our own cooking: We buy for our own personal accounts what we buy for clients. We deem it to be hypocritical to buy for clients or recommend to clients securities that we do not own and do not buy ourselves, even though we think a security is very attractive.”
There are some interesting investment opportunities identified is this interview. Among them are:
“We like GlaxoSmithKline (NYSE:GSK). GlaxoSmithKline is a big pharmaceutical company with a new manager as CEO, who is doing extremely well in our opinion, and a new President of Research and Development, Hal Barron, who has had a very, very exciting history developing important drugs. The stock yield is over 5% and, in our opinion, is undervalued.”
Another stock pick from this value investor:
“We have owned for a long time New York Community Bank (NYSE:NYCB), which originally started out as Queens County Savings Bank. And through a whole bunch of acquisitions is now a $50 billion bank.
New York Community has a 5.7% dividend yield, which is pretty darn high. And if your goal is to annualize your money at 10% to 12%, you could say you’re sort of halfway there with the dividend yield.”
Get the complete detailed reasoning for these and many others, only in the complete 3,362 word interview and only in the Wall Street Transcript.
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