If fees consume more than 1% of your assets annually, you should probably shop for another adviser.
BENJAMIN GRAHAMThe 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.
More Benjamin Graham Quotes
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There is no reason to feel any shame in hiring someone to pick stocks or mutual funds for you. But there’s one responsibility that you must never delegate. You, and no one but you, must investigate whether an adviser is trustworthy and charges reasonable fees.
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In the world of securities, courage becomes the supreme virtue after adequate knowledge and a tested judgment are at hand.
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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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Do not let anyone else run your business
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High valuations entail high risks.
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The essence of investment management is the management of risks, not the management of returns.
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I am more and more impressed with the possibilities of history’s repeating itself on many different counts. You don’t get very far in Wall Street with the simple, convenient conclusion that a given level of prices is not too high.
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It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.
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The investor’s chief problem – and even his worst enemy – is likely to be himself.
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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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Stocks can be dynamite.
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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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Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same.
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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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Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.
BENJAMIN GRAHAM