"By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be destroyed."
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Quote collection
Benjamin Graham quotes (page 2 of 10)
197 quotes — follow a thought to its full quote page.
"It requires strength of character in order to think and to act in opposite fashion from the crowd and also patience to wait for opportunities that may be spaced years apart."
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"Stock speculation is largely a matter of A trying to decide what B, C and D are likely to think-with B, C and D trying to do the same."
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"Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic."
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"To be an investor you must be a believer in a better tomorrow."
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"Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it."
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"The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies."
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"You must never delude yourself into thinking that you're investing when you're speculating."
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"Diversification is an established tenet of conservative investment."
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"An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd."
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"Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it – even though others may hesitate or differ."
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"The best way to measure your investing success is not by whether you're beating the market but by whether you've put in place a financial plan and a behavioral discipline that are likely to get you where you want to go."
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"Speculators often prosper through ignorance; it is a cliché that in a roaring bull market knowledge is superfluous and experience is a handicap. But the typical experience of the speculator is one of temporary profit and ultimate loss"
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"Price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal."
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"In the short-run, the market is a voting machine - reflecting a voter-registration test that requires only money, not intelligence or emotional stability - but in the long- run, the market is a weighing machine."
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"Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop."
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"To have a true investment, there must be a true margin of safety. And a true margin of safety is one that can be demonstrated by figures, by persuasive reasoning, and by reference to a body of actual experience."
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"All the real money in investment will have to be made as most of it has been in the past not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements."
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"There is a close logical connection between the concept of a safety margin and the principle of diversification."
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"The essence of investment management is the management of risks, not the management of returns."
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