Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.
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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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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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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Stocks can be dynamite.
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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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The stock market resembles a huge laundry in which institutions take in large blocks of each others washing … without rhyme or reason.
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Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.
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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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You must never delude yourself into thinking that you’re investing when you’re speculating.
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The modern world is not geared properly to the storage of goods.
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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 genuine investor in common stocks does not need a great equipment of brain and knowledge, but he does need some unusual qualities of character
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Instead of passing blithely over into that Promised Land, flowing almost literally with milk and honey, it may be our destiny to wander a full 40 years or more in the wilderness of doubt and divided sentiments.
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… the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street.
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The memory of the financial community is proverbially and distressingly short.
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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