A stock is not just a ticker symbol or an electronic blip; it is an ownership interest in an actual business, with an underlying value that does not depend on its share price.
BENJAMIN GRAHAMSuccessful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it.
More Benjamin Graham Quotes
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The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.
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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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Whether we like it or not, government intervention in the face of surplus is here to stay.
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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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The investor who permits himself to be stampeded or unduly worried by unjustified market declines in his holdings is perversely transforming his basic advantage into a basic disadvantage.
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Nearly everyone interested in common stocks wants to be told by someone else what he thinks the market is going to do. The demand being there, it must be supplied.
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The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.
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The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
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Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble… to give way to hope, fear and greed.
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The intelligent investor is a realist who sells to optimists and buys from pessimists.
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By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be destroyed.
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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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It is absurd to think that the general public can ever make money out of market forecasts.
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It is a misfortune of the times that all of us must needs be amateur economists-including, and perhaps especially, the professionals.
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Never mingle your speculative and investment operations in the same account nor in any part of your thinking.
BENJAMIN GRAHAM