Through examples of real stocks such as the Northern Pacific Railway(NPF) and the American - Hawaiian Steamship Company, Graham illustrated a rational, mathematical approach to valuing stocks. 通过实际存在的股票(如NorthernPacificRailway和American-HawaiianSteamshipCompany)的例子,格雷厄姆阐述了为股票估值的理性数学方法。
Most notably, when the great Northern Pacific Railway(NPF) defaulted on debts owed to its investment bank, the bank closed its doors, precipitating the Financial Panic of1873. 而最为显著的是,北太平洋铁路(NPF)(NorthernPacificRailway)因拖欠投资银行的债务而导致银行破产,引发了1873年的金融恐慌(FinancialPanic)。