Benjamin Graham Quote: The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy.

Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety.

BENJAMIN GRAHAM

Challenges Intelligent Safety

By developing your discipline and courage, you can refuse to let other people’s mood swings govern your financial destiny. In the end, how your investments behave is much less important than how you behave.

BENJAMIN GRAHAM

Destiny Discipline Swings

A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.

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Bears Investing Wreckage

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

Economic Keys Littles

Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.

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Evidence Investing People

Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.

BENJAMIN GRAHAM

Issues Portfolios Quality

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.

BENJAMIN GRAHAM

Hands Honesty Investing

It is worth pointing out that assuredly not more than one person out of a hundred who stayed in the market after after 1925 emerged from it with a net profit and that the speculative losses taken were appalling.

BENJAMIN GRAHAM

Hundred Loss Taken

The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must be adapted to significant changes in the financial mechanisms and climate.

BENJAMIN GRAHAM

Change Intelligent Significant Sound

There is a close logical connection between the concept of a safety margin and the principle of diversification.

BENJAMIN GRAHAM

Investing Principles Safety

A speculator gambles that a stock will go up in price because somebody else will pay even more for it.

BENJAMIN GRAHAM

Investing Pay Speculators

We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more that it is selling for.

BENJAMIN GRAHAM

Analysis Investing Issues

An investor calculates what a stock is worth, based on the value of its businesses.

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Business Investing Investors Values

For 99 issues out of 100 we could say that at some price they are cheap enough to buy and at some price they would be so dear that they would be sold.

BENJAMIN GRAHAM

Investing Issue Issues Price Some

The idea of storage as a solution of economic problems at least has the support of common sense.It is diametrically opposed to the topsy-turvy Alice-in-Wonderland reasoning that has marked so much of our depression thinking and policy.

BENJAMIN GRAHAM

Common Sense Ideas Thinking

Both individual skill (art) and chance are important factors in determining success or failure.

BENJAMIN GRAHAM

Art Important Skills

The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy.

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