Way before Amazon, Apple, and Google there was the Computing-Tabulating-Recording Co (CTR). CTR had the hippest new tech in town.
The merging of four companies combined together into one in 1911, put time clocks, punch card equipment, and weighing scales (and a few other bits of new tech) all under one roof.
A few years later, a budding young investor on Wall Street felt CTR was a worthy recommendation:
In 1915, while just a beginner on Wall Street, I suggested that the firm recommend a low-price stock, the Computing-Tabulating-Recording Co. But my employer, a conservative fellow, pointed out that the company’s bonds weren’t covered by its assets. He said, ‘How can you touch such a speculative stock?’ And I returned to my desk a very chastised young man. Years later the public company changed its name to IBM.”
CTR, now IBM, was the “Amazon” of its time. Graham recommended what became IBM when it was a measly $4 million market cap stock. Continue Reading…