The true investor… will do better if he forgets about the stock market and pays attention to his dividend returns and to the operation results of his companies.
BENJAMIN GRAHAMAt heart, “uncertainty” and “investing” are synonyms.
More Benjamin Graham Quotes
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Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.
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Obvious prospects for physical growth in a business do not translate into obvious profits for investors.
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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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Investing isn’t about beating others at their game. It’s about controlling yourself at your own game.
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The utility, or intrinsic value of gold as a commodity is now considerably less than in the past; its monetary status has become extraordinarily ambiguous; and its future is highly uncertain.
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In the short-run, the market is a voting machine – reflecting a voter-registration test that requires only money, not intelligence or emotional stability – but in the long- run, the market is a weighing machine.
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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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you may take it as an axiom that you cannot profit in Wall Street by continuously doing the obvious or the popular thing
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The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard.
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The modern world is not geared properly to the storage of goods.
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In the old legend the wise men finally boiled down the history of mortal affairs into a single phrase: ‘This too will pass.’
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Whether we like it or not, government intervention in the face of surplus is here to stay.
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The investor who permits himself to be stampeded or unduly worried by unjustified market declines in his holdings is perversely transforming his basic advantage into a basic disadvantage.
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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.
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The genuine investor in common stocks does not need a great equipment of brain and knowledge, but he does need some unusual qualities of character
BENJAMIN GRAHAM