The intelligent investor is a realist who sells to optimists and buys from pessimists.
BENJAMIN GRAHAMExperience teaches that the time to buy stocks is when their price is unduly depressed by temporary adversity. In other words, they should be bought on a bargain basis or not at all.
More Benjamin Graham Quotes
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The existence of such a war chest might go far to strengthen our prestige and frighten off any would be assailant.
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The memory of the financial community is proverbially and distressingly short.
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It requires strength of character in order to think and to act in opposite fashion from the crowd and also patience to wait for opportunities that may be spaced years apart.
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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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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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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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It is absurd to think that the general public can ever make money out of market forecasts.
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The only thing you should do with pro forma earnings is ignore them.
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Successful investing is about managing risk, not avoiding it.
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The volume of credit depends upon three factors: the desire to borrow, the ability to lend and the desire to lend.
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No statement is more true and better applicable to Wall Street than the famous warning of Santayana: “Those who do not remember the past are condemned to repeat it”.
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Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.
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A great company is not a great investment if you pay too much for the stock.
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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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For 99 issues out of 100 we could say that at some price they are cheap enough to buy and at some price they would be so dear that they would be sold.
BENJAMIN GRAHAM