The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard.
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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Buy not on optimism, but on arithmetic.
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To enjoy a reasonable chance for continued better than average results, the investor must follow policies which are (1) inherently sound and promising, and (2) not popular on Wall Street.
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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 essence of investment management is the management of risks, not the management of returns.
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The value of any investment is, and always must be, a function of the price you pay for it.
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There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that market.
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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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You must never delude yourself into thinking that you’re investing when you’re speculating.
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A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.
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Why should the cotton growers suffer if there is shortage of wheat?
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Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.
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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.
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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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Stocks can be dynamite.
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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.
BENJAMIN GRAHAM