The world has not learned the technique of balanced expansion without the resultant commercial and financial congestion.
BENJAMIN GRAHAMTo see how much a company is truly earning on the capital it deploys in its businesses, look beyond EPS to Return on Invested Capital (ROIC).
More Benjamin Graham Quotes
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The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.
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Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same.
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The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
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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.
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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.
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Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it.
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I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities.
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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 stock market resembles a huge laundry in which institutions take in large blocks of each others washing … without rhyme or reason.
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The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.
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An investor calculates what a stock is worth, based on the value of its businesses.
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Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.
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To see how much a company is truly earning on the capital it deploys in its businesses, look beyond EPS to Return on Invested Capital (ROIC).
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Traditionally the investor has been the man with patience and the courage of his convictions who would buy when the harried or disheartened speculator was selling.
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The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices.
BENJAMIN GRAHAM