The volume of credit depends upon three factors: the desire to borrow, the ability to lend and the desire to lend.
BENJAMIN GRAHAMInvesting is most intelligent when it is most businesslike.
More Benjamin Graham Quotes
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The intelligent investor is a realist who sells to optimists and buys from pessimists.
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Both individual skill (art) and chance are important factors in determining success or failure.
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Wall Street has a few prudent principles; the trouble is that they are always forgotten when they are most needed.
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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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It is absurd to think that the general public can ever make money out of market forecasts.
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Although there are good and bad companies, there is no such thing as a good stock; there are only good stock prices, which come and go.
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The Reservoir plan is an engineering mechanism applied to the field of economics, and in its essence it has nothing to do with democracy or any other political philosophy.
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Why should the cotton growers suffer if there is shortage of wheat?
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The world has not learned the technique of balanced expansion without the resultant commercial and financial congestion.
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Intelligent investment is more a matter of mental approach than it is of technique. A sound mental approach toward stock fluctuations is the touchstone of all successful investment under present-day conditions.
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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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Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.
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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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Always buy your straw hats in the Winter
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It’s nonsensical to derive a price/earnings ratio by dividing the known current price by unknown future earnings.
BENJAMIN GRAHAM