I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities.
BENJAMIN GRAHAMBy 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.
More Benjamin Graham Quotes
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The memory of the financial community is proverbially and distressingly short.
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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 -
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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It is a fact worth pondering that four centuries ago the evil of “an abundance or surplus” arose from its being kept off the market, while today the evil of surplus lies in its being thrown upon the market.
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The intelligent investor shouldn’t ignore Mr. Market entirely. Instead, you should do business with him- but only to the extent that it serves your interests.
BENJAMIN GRAHAM -
The Reservoir system will function not only as an equalizer of business conditions, but also as a national store to meet further emergencies, such as war and drought, and-most important of all-as the concrete means of developing a steadily higher living standard for all.
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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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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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The value of the security analyst to the investor depends largely on the investor’s own attitude. If the investor asks the analyst the right questions, he is likely to get the right or at least valuable answers.
BENJAMIN GRAHAM -
To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.
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In the short run, the market is a voting machine, but in the long run it is a weighing machine.
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The intelligent investor is a realist who sells to optimists and buys from pessimists.
BENJAMIN GRAHAM -
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.
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The sillier the market’s behavior, the greater the opportunity for the business like investor.
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THERE is widespread agreement among economists that abuse of credit constitutes one of the chief unwholesome elements in business booms and is mainly responsible for the ensuing crash and depression.
BENJAMIN GRAHAM