"Investing is most intelligent when it is most businesslike."
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Quote collection
Benjamin Graham quotes (page 3 of 10)
197 quotes — follow a thought to its full quote page.
"Always buy your straw hats in the Winter"
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"you may take it as an axiom that you cannot profit in Wall Street by continuously doing the obvious or the popular thing"
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"We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more that it is selling for."
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"Cartels have spread and will spread as long as the world lacks an effective mechanism by which balanced expansion may be achieved without a resulting disruption of prices."
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"By developing your discipline and courage, you can refuse to let other people's mood swings govern your financial destiny. In the end, how your investments behave is much less important than how you behave."
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"The intelligent investor is likely to need considerable will power to keep from following the crowd."
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"Evidently stockholders have forgotten more than to look at balance sheets. They have forgotten also that they are owners of a business and not merely owners of a quotation on the stock ticker. It is time, and high time, that the millions of American shareholders turned their eyes from the daily market reports long enough to give some attention to the enterprises themselves of which they are the proprietors, and which exist for their benefit and at their pleasure."
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"It always seemed, and still seems, ridiculously simple to say that if one can acquire a diversified group of common stocks at a price less than the applicable net current assets alone - after deducting all prior claims, and counting as zero the fixed and other assets - the results should be quite satisfactory."
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"Never buy a stock because it has gone up or sell one because it has gone down."
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"The intelligent investor gets interested in big growth stocks not when they are at their most popular - but when something goes wrong."
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"At heart, "uncertainty" and "investing" are synonyms."
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"Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of good business conditions. The purchasers view the good current earnings as equivalent to 'earning power' and assume that prosperity is equivalent to safety."
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"High valuations entail high risks."
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"The investor's chief problem - and even his worst enemy - is likely to be himself."
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"Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored."
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"The defensive (or passive) investor will place chief emphasis on the avoidance of serious mistakes or losses. His second aim will be freedom from effort, annoyance, and the need for making frequent decisions."
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"Knowledge is only one ingredient on arriving at a stock's proper price. The other ingredient, fully as important as information, is sound judgment."
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"The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern."
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"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks."
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