The foundations of value investing were set by Benjamin Graham who wrote the book "Security Analysis" together with David Dodd. The book outlined the foundamentals of value investing as a successful stategy in the modern stock market. Though Benjamin Graham has not been very successful in the stock market, his methodology has influenced many of his students to make use of value investing in the stock market to achieve great successes. The most famous two are Warren Buffett and John Templeton. Of course, in order to achieve great successes, they have finetuned value investing from the time of Benjamin Graham to cope with the actual market situation and making value investing to be more forward looking. John Templeton has been very famous with his successful investing in the emerging market and Warren Buffet is great in investing in the most promising enterprises to become the best investor in history. Both of them have not clearly stated sytematically how value investing work in evaluating investment opportunities. However, I will summarize their publicly anouncements and annual reports to get a closer look of their ways of successful value investing in the coming blogs.
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