"When [Warren] Buffett graduated from Columbia, he asked Benjamin Graham for a job (for no salary) at the Graham-Newman Co. According to Buffett, 'Ben made his customary calculation of value to price and said no'." Warren Buffett Speaks. Janet Lowe. Wiley, p. 31. Can you explain the irony in this story? Use rational consideration of costs and benefits. What was Benjamin Graham really saying? Why might you be turned down for a nonpaying internship?