Reflections

In 1967, my grandfather Ben Graham invited me on a cruise. When our ship docked at Odessa, he sent a postcard to Warren and Susie Buffett. Grandpa Ben would be surprised to learn that his postcard not only amazes me, but also gives us wisdom on how to value a child. If you’re fortunate enough to have a child in your life, I hope you’ll read the whole story.

I’d never envied my grandfather more than I did at the moment we walked through his palace doors. Liveried pages bowed to welcome us. I stood awed by the splendor of the sweeping staircase and crystal chandeliers, which cast shimmering lights on the black marble floor.

How extraordinary that, just when I’m ready to write about my Grandpa Ben, I find this photograph of him tucked in a box on my office shelf. I don’t remember seeing the photo before, but surely I must have when it arrived by airmail, almost fifty years ago. The...