Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.
BENJAMIN GRAHAMExperience teaches that the time to buy stocks is when their price is unduly depressed by temporary adversity. In other words, they should be bought on a bargain basis or not at all.
More Benjamin Graham Quotes
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In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility.
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The investor’s chief problem – and even his worst enemy – is likely to be himself.
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Wall Street people learn nothing and forget everything.
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It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.
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Many progressive economists insist that gold is now in essentially the same position as silver and that the arguments the simon-pure gold advocates use against the white metal can be directed with equal effect against their own fetish.
BENJAMIN GRAHAM -
No statement is more true and better applicable to Wall Street than the famous warning of Santayana: “Those who do not remember the past are condemned to repeat it”.
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The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.
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The Reservoir plan is an engineering mechanism applied to the field of economics, and in its essence it has nothing to do with democracy or any other political philosophy.
BENJAMIN GRAHAM -
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.
BENJAMIN GRAHAM -
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.
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The intelligent investor is a realist who sells to optimists and buys from pessimists.
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In security analysis the prime stress is laid upon protection against untoward events. We obtain this protection by insisting upon margins of safety, or values well in excess of the price paid.
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Always buy your straw hats in the Winter
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The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard.
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Investing isn’t about beating others at their game. It’s about controlling yourself at your own game.
BENJAMIN GRAHAM