I am more and more impressed with the possibilities of history’s repeating itself on many different counts. You don’t get very far in Wall Street with the simple, convenient conclusion that a given level of prices is not too high.
BENJAMIN GRAHAMNever mingle your speculative and investment operations in the same account nor in any part of your thinking.
More Benjamin Graham Quotes
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The ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price to determine whether or not the security is an attractive purchase.
BENJAMIN GRAHAM -
The Reservoir system will function not only as an equalizer of business conditions, but also as a national store to meet further emergencies, such as war and drought, and-most important of all-as the concrete means of developing a steadily higher living standard for all.
BENJAMIN GRAHAM -
Obvious prospects for physical growth in a business do not translate into obvious profits for investors.
BENJAMIN GRAHAM -
Both a priori reasoning and experience teach us that as as these funds grow larger the geometrical rate of growth by compound interest ultimately defeats itself.
BENJAMIN GRAHAM -
The memory of the financial community is proverbially and distressingly short.
BENJAMIN GRAHAM -
A great company is not a great investment if you pay too much for the stock.
BENJAMIN GRAHAM -
Diversification is an established tenet of conservative investment.
BENJAMIN GRAHAM -
If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume.
BENJAMIN GRAHAM -
The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
BENJAMIN GRAHAM -
By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be destroyed.
BENJAMIN GRAHAM -
The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies.
BENJAMIN GRAHAM -
The qualitative factors upon which most stress is laid are the nature of the business and the character of the management. These elements are exceedingly important, but they are also exceedingly difficult to deal with intelligently.
BENJAMIN GRAHAM -
The sillier the market’s behavior, the greater the opportunity for the business like investor.
BENJAMIN GRAHAM -
At heart, “uncertainty” and “investing” are synonyms.
BENJAMIN GRAHAM -
An investor calculates what a stock is worth, based on the value of its businesses.
BENJAMIN GRAHAM