Nearly everyone interested in common stocks wants to be told by someone else what he thinks the market is going to do. The demand being there, it must be supplied.
BENJAMIN GRAHAMNever buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.
More Benjamin Graham Quotes
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Nearly everyone interested in common stocks wants to be told by someone else what he thinks the market is going to do. The demand being there, it must be supplied.
BENJAMIN GRAHAM -
In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in accordance with its specific qualities.
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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 GRAHAMThe 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.
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The intelligent investor shouldn’t ignore Mr. Market entirely. Instead, you should do business with him- but only to the extent that it serves your interests.
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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
BENJAMIN GRAHAMIndividuals who cannot master their emotions are ill-suited to profit from the investment process.
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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.
BENJAMIN GRAHAMIf 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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The function of the margin of safety is, in essence, that of rendering unnecessary an accurate estimate of the future.
BENJAMIN GRAHAMThe function of the margin of safety is, in essence, that of rendering unnecessary an accurate estimate of the future.
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If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume.
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The only thing you should do with pro forma earnings is ignore them.
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Successful investing is about managing risk, not avoiding it.
BENJAMIN GRAHAMSuccessful investing is about managing risk, not avoiding it.
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The investor’s chief problem – and even his worst enemy – is likely to be himself.
BENJAMIN GRAHAMThe investor’s chief problem – and even his worst enemy – is likely to be himself.
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Calculate a stock’s price/earnings ratio yourself, using Graham’s formula of current price divided by average earnings over the past three years.
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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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High valuations entail high risks.
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Confusing speculation with investment is always a mistake.
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The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
BENJAMIN GRAHAMThe chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
BENJAMIN GRAHAM



