As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily against him.
BENJAMIN GRAHAMDiversification is an established tenet of conservative investment.
More Benjamin Graham Quotes
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Before you place your financial future in the hands of an adviser, it’s imperative that you find someone who not only makes you comfortable but whose honesty is beyond reproach.
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It is absurd to think that the general public can ever make money out of market forecasts.
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Wall Street people learn nothing and forget everything.
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Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.
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At heart, “uncertainty” and “investing” are synonyms.
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The value of any investment is, and always must be, a function of the price you pay for it.
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The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies.
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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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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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There is a close logical connection between the concept of a safety margin and the principle of diversification.
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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 intelligent investor is a realist who sells to optimists and buys from pessimists.
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The value of the security analyst to the investor depends largely on the investor’s own attitude. If the investor asks the analyst the right questions, he is likely to get the right or at least valuable answers.
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It is a fact worth pondering that four centuries ago the evil of “an abundance or surplus” arose from its being kept off the market, while today the evil of surplus lies in its being thrown upon the market.
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Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.
BENJAMIN GRAHAM








