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.
BENJAMIN GRAHAMThe best values today are often found in the stocks that were once hot and have since gone cold.
More Benjamin Graham Quotes
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The idea of storage as a solution of economic problems at least has the support of common sense.It is diametrically opposed to the topsy-turvy Alice-in-Wonderland reasoning that has marked so much of our depression thinking and policy.
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The story of Joseph in Egypt and of the seven fat and the seven lean years has passed into the homely wisdom of the ages; but our economic thinking seems to have lost contact with so simple and basic approach to prudent management of a nations welfare.
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For 99 issues out of 100 we could say that at some price they are cheap enough to buy and at some price they would be so dear that they would be sold.
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Do not let anyone else run your business
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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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Wall Street people learn nothing and forget everything.
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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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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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The sillier the market’s behavior, the greater the opportunity for the business like investor.
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Wall Street has a few prudent principles; the trouble is that they are always forgotten when they are most needed.
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Whenever the investor sold out in an upswing as soon as the top level of the previous well-recognized bull market was reached, he had a chance in the next bear market to buy back at one third (or better) below his selling price.
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An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return.
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If General Motors is worth $60 a share to an investor it must be because the full common-stock ownership of this gigantic enterprise as a whole is worth 43 million (shares) times $60, or no less than $2,600 million.
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Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.
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Before you invest, you must ensure that you have realistically assessed your probability of being right and how you will react to the consequences of being wrong.
BENJAMIN GRAHAM