Instead of passing blithely over into that Promised Land, flowing almost literally with milk and honey, it may be our destiny to wander a full 40 years or more in the wilderness of doubt and divided sentiments.
BENJAMIN GRAHAMThe 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.
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.
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A great company is not a great investment if you pay too much for the stock.
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Undervaluations caused by neglect or prejudice may persist for an inconveniently long time, and the same applies to inflated prices caused by over-enthusiasm or artificial stimulants.
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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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The memory of the financial community is proverbially and distressingly short.
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You must never delude yourself into thinking that you’re investing when you’re speculating.
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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.
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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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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
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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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The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must be adapted to significant changes in the financial mechanisms and climate.
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Why should the cotton growers suffer if there is shortage of wheat?
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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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Mr. Market’s job is to provide you with prices; your job is to decide whether it is to your advantage to act on them. You no not have to trade with hime just because he constantly begs you to.
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Investing isn’t about beating others at their game. It’s about controlling yourself at your own game.
BENJAMIN GRAHAM








