Traditionally the investor has been the man with patience and the courage of his convictions who would buy when the harried or disheartened speculator was selling.
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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As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily against him.
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Wall Street people learn nothing and forget everything.
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There is a close logical connection between the concept of a safety margin and the principle of diversification.
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The investor’s chief problem – and even his worst enemy – is likely to be himself.
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When somebody asserts that a stock has an earning power of so much, I am sure that the person who hears him doesn’t know what he means, and there is a good chance that the man who uses it doesn’t know what it means.
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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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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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Wall Street has a few prudent principles; the trouble is that they are always forgotten when they are most needed.
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Buy not on optimism, but on arithmetic.
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Price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal.
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While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster
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People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.
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It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.
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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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Investing isn’t about beating others at their game. It’s about controlling yourself at your own game.
BENJAMIN GRAHAM