Warren E. Buffett was just 25-years-old in 1956 when his hero, Benjamin Graham, the lauded founder of value investing, decided to retire. While matriculating at Columbia University Business School, Buffett had been Graham’s best student, receiving the only A+ in his investments class. A few years after, Buffett had become the star employee of his professor’s investment firm, Graham-Newman. Before he retired, his mentor offered his portion of the firm to Buffett, who respectfully declined, opting to return home to Omaha, Neb., instead. That moment marked a major turning point in Buffett’s professional trajectory. Dawn was about to break on his own investment partnership—one of the most financially productive endeavors of the great investor’s entire career.
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