If General Motors is worth $60 a share to an investor it must be because the full common-stock ownership of this gigantic enterprise as a whole is worth 43 million (shares) times $60, or no less than $2,600 million.
BENJAMIN GRAHAMThe money cost of the reservoir plan literally fades into insignificance when it is compared with the financial burden which the great depression imposed on the nation.
More Benjamin Graham Quotes
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To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.
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The sillier the market’s behavior, the greater the opportunity for the business like investor.
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It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.
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there is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present financial picture.
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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
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Losing some money is an inevitable part of investing, and there’s nothing you can do to prevent it. But to be an intelligent investor, you must take responsibility for ensuring that you never lose most or all of your money.
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Instead of passing blithely over into that Promised Land, flowing almost literally with milk and honey, it may be our destiny to wander a full 40 years or more in the wilderness of doubt and divided sentiments.
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The modern world is not geared properly to the storage of goods.
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The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices.
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Successful investing is about managing risk, not avoiding it.
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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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You must never delude yourself into thinking that you’re investing when you’re speculating.
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It’s nonsensical to derive a price/earnings ratio by dividing the known current price by unknown future earnings.
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Never buy a stock because it has gone up or sell one because it has gone down.
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Obvious prospects for physical growth in a business do not translate into obvious profits for investors.
BENJAMIN GRAHAM