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Home > Financial Services > Stock Brokers > Kahn Brothers & Co. Inc.
Kahn Brothers & Co. Inc.
Kahn Brothers & Co. Inc. is a member of NASD, the National Association of Securities Dealers. NASD is a self-regulatory organization of the securities industry responsible for the operation and regulation of the NASDQ stock market and over the counter markets. It also administrates exams for the investments professionals, such as the series of 7 exams.
Kahn Brothers & Company, lnc. A New York Stock Exchange member firm is an investment advisor with over $800 million of institutional and private funds under management. The Company was founded in 1978 by Irving, Alan and Thomas Kahn; they invest primarily in undervalued equity securities that have attractive prospects for capital appreciation.
The firm's principals have well over 100 years aggregate experience in applying the value investing philosophy espoused by Benjamin Graham in Security Analysis, (1934). Their goal is to provide clients with superior returns on investment while limiting their exposure to risk and possible loss of capital.
Kahn Brothers employs a bottom-up stock selection approach, and invests in undervalued equity securities that are usually out of favor in the market. They select securities one at a time based on assets, operating performance and long term fundamental business prospects. Unlike many investment managers, their staff spends a considerable amount of effort evaluating the downside risk of every investment. They are long term investors with a typical 3-5 year time horizon.
Value Investing is a philosophy highly dependent on price. Security selection is therefore a process of identifying situations where companies trade at a significant discount to their liquidation or going-concern value. This discount, defined as the margin of safety, is critical in two respects. A large margin of safety component reduces the risk of capital loss. Further, superior returns often result when the marketplace recognizes the true value of the enterprise.
The market's recognition of value is often dependent on a catalyst an event which corrects the margin of safety discount. The identification of potential catalysts is therefore an integral part of their research process. Without a catalyst, a prospective investment can remain under priced indefinitely and thereby result in a mediocre return.
Kahn Brothers views investing as a combination of art and science. Each investment decision has both quantitative and qualitative aspects. While the former can be readily duplicated by a novice, the qualitative component is acquired only from decades of analyzing investment opportunities.
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