A great company is not a great investment if you pay too much for the stock.
BENJAMIN GRAHAMNever mingle your speculative and investment operations in the same account nor in any part of your thinking.
More Benjamin Graham Quotes
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Diversification is an established tenet of conservative investment.
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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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Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
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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 is most intelligent when it is most businesslike.
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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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The best values today are often found in the stocks that were once hot and have since gone cold.
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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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The 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.
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Unusually rapid growth cannot keep up forever; when a company has already registered a brilliant expansion, its very increase in size makes a repetition of its achievement more difficult.
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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
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Successful investing is about managing risk, not avoiding it.
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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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We urge the beginner in security buying not to waste his efforts and his money in trying to beat the market. Let him study security values and initially test out his judgment on price versus value with the smallest possible sums.
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There is a close logical connection between the concept of a safety margin and the principle of diversification.
BENJAMIN GRAHAM








