At heart, “uncertainty” and “investing” are synonyms.
BENJAMIN GRAHAMThe most striking thing about Graham’s discussion of how to allocate your assets between stocks and bonds is that he never mentions the word “age”.
More Benjamin Graham Quotes
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High valuations entail high risks.
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Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
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Buy not on optimism, but on arithmetic.
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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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Even defensive portfolios should be changed from time to time, especially if the securities purchased have an apparently excessive advance and can be replaced by issues much more reasonable priced.
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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
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Do not let anyone else run your business
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An investor calculates what a stock is worth, based on the value of its businesses.
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To be an investor you must be a believer in a better tomorrow.
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Stocks can be dynamite.
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Obvious prospects for physical growth in a business do not translate into obvious profits for investors.
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By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be destroyed.
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While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster
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The investor should be aware that even though safety of its principal and interest may be unquestioned, a long term bond could vary widely in market price in response to changes in interest rates.
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In the world of securities, courage becomes the supreme virtue after adequate knowledge and a tested judgment are at hand.
BENJAMIN GRAHAM








