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 GRAHAMIt 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.
More Benjamin Graham Quotes
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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 is likely to need considerable will power to keep from following the crowd.
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The best values today are often found in the stocks that were once hot and have since gone cold.
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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.
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If I have noticed anything over these 60 years on Wall Street, it is that people do not succeed in forecasting what`s going to happen to the stock market.
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We urge the beginner in security buying not to waste his efforts and his money in trying to beat the market. Let him study security values and initially test out his judgment on price versus value with the smallest possible sums.
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I quickly convinced myself that the true key to material happiness lay in a modest standard of living which could be achieved with little difficulty under almost all economic conditions.
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You must never delude yourself into thinking that you’re investing when you’re speculating.
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The investor’s chief problem – and even his worst enemy – is likely to be himself.
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An investor calculates what a stock is worth, based on the value of its businesses.
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Whether we like it or not, government intervention in the face of surplus is here to stay.
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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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there is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present financial picture.
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Even the most conservative must realize that the recent transformation of surplus from an individual to a national disaster implies a scathing indictment of our capitalist system as it has now developed.
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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.
BENJAMIN GRAHAM