The year ends as it began, in the midst of crisis. But none of this surprises Khan Irving oldest broker on Wall Street. He has the rare privilege of working in the financial heart of New York since before the crisis of '29. Days turned 106 years ago, he did not plan to work and retire.
His investment company, Kahn Brothers, manages a volume of U.S. $ 700 million. A responsibility that is used and without which I could not live. "Work is his life, has always been someone who absorbs information," explains his son Thomas.
Irving is spent reading the news online. Devora two financial newspapers a day and left a while for nonfiction and science. Keep your mind active is a personal decision, but also a basic need for it.
But numbers alone do not live broker. Until a few years, even having passed the barrier of the century, every day walked twenty blocks from his house to the office, showing that endures so well over the years to intellectual and physical level.
Back in his office is dedicated to what he can do best: find undervalued business opportunities. Follow the cautious steps of his teacher, Benjamin Graham, who was an assistant at the Columbia Business School.
In the long term
Not interested in short-term operations, very sensitive to sudden changes in the market, or financial products become trendy for his probable overvaluation. "Do not buy class actions," he told the Financial Times some years ago. Is inclined to buy shares to keep in portfolio for at least two or three years.
In a recent interview for the website The Daily Beast summed up his defensive strategy: invest in companies with strong fundamentals such as food, clothing, essential. "Everyone wants to still have a clean shirt," he says.
At over 83 years working on Wall Street has experienced all sorts of ups and downs. As soon began his career as a stock analyst suffered great crisis of '29. He cut his salary to $ 60 a week. When his boss gave him the news asked him why he smiled. "I thought I was going to take," he said.
Today sees advantages in the pile of accumulated years on their backs. "You know what that is rotten and what's cool, what's good and what is bad," he summarizes.
See the glass half full can be a good recipe to face the difficulties and achieve long and healthy life years. However, if you look you will see that life is not a man who has had too much caution in their habits, as if he was in business. In fact, if you quit a youth was to set a good example for their children.
But longevity is something that is carried in the blood. His sister died at 110 and about to celebrate his younger brother has just 101. In fact the family group is being studied by Dr. Nair Barzilai of Albert Einstein Medical Center in the Bronx.
Apparently the key to your health is in a gene related to the level of HDL in the blood. This is the so-called good cholesterol. This protects you from heart disease and deterioration of cognitive abilities.
It's hard to imagine a young man or as an apprentice. It seems it was always the most experienced in the field. However, do not forget that his drive he learned from his father.
In the simplest issues of life unfold just wanted to know. For example, to ride a bike. "I went up and pushed me, going through the middle of the street almost falling, and I realized that all I could do was pedal, so I learned very quickly," he recalls.
And riding in a complicated world like investments reached its 106 years, more than they can presume the Federal Reserve and most of the big banks. And most importantly, do not plan to get off the bike.
His investment company, Kahn Brothers, manages a volume of U.S. $ 700 million. A responsibility that is used and without which I could not live. "Work is his life, has always been someone who absorbs information," explains his son Thomas.
Irving is spent reading the news online. Devora two financial newspapers a day and left a while for nonfiction and science. Keep your mind active is a personal decision, but also a basic need for it.
But numbers alone do not live broker. Until a few years, even having passed the barrier of the century, every day walked twenty blocks from his house to the office, showing that endures so well over the years to intellectual and physical level.
Back in his office is dedicated to what he can do best: find undervalued business opportunities. Follow the cautious steps of his teacher, Benjamin Graham, who was an assistant at the Columbia Business School.
In the long term
Not interested in short-term operations, very sensitive to sudden changes in the market, or financial products become trendy for his probable overvaluation. "Do not buy class actions," he told the Financial Times some years ago. Is inclined to buy shares to keep in portfolio for at least two or three years.
In a recent interview for the website The Daily Beast summed up his defensive strategy: invest in companies with strong fundamentals such as food, clothing, essential. "Everyone wants to still have a clean shirt," he says.
At over 83 years working on Wall Street has experienced all sorts of ups and downs. As soon began his career as a stock analyst suffered great crisis of '29. He cut his salary to $ 60 a week. When his boss gave him the news asked him why he smiled. "I thought I was going to take," he said.
Today sees advantages in the pile of accumulated years on their backs. "You know what that is rotten and what's cool, what's good and what is bad," he summarizes.
See the glass half full can be a good recipe to face the difficulties and achieve long and healthy life years. However, if you look you will see that life is not a man who has had too much caution in their habits, as if he was in business. In fact, if you quit a youth was to set a good example for their children.
But longevity is something that is carried in the blood. His sister died at 110 and about to celebrate his younger brother has just 101. In fact the family group is being studied by Dr. Nair Barzilai of Albert Einstein Medical Center in the Bronx.
Apparently the key to your health is in a gene related to the level of HDL in the blood. This is the so-called good cholesterol. This protects you from heart disease and deterioration of cognitive abilities.
It's hard to imagine a young man or as an apprentice. It seems it was always the most experienced in the field. However, do not forget that his drive he learned from his father.
In the simplest issues of life unfold just wanted to know. For example, to ride a bike. "I went up and pushed me, going through the middle of the street almost falling, and I realized that all I could do was pedal, so I learned very quickly," he recalls.
And riding in a complicated world like investments reached its 106 years, more than they can presume the Federal Reserve and most of the big banks. And most importantly, do not plan to get off the bike.
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