It is absurd to think that the general public can ever make money out of market forecasts.
BENJAMIN GRAHAMInvesting isn’t about beating others at their game. It’s about controlling yourself at your own game.
More Benjamin Graham Quotes
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Diversification is an established tenet of conservative investment.
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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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It is a fact worth pondering that four centuries ago the evil of “an abundance or surplus” arose from its being kept off the market, while today the evil of surplus lies in its being thrown upon the market.
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The Reservoir plan is an engineering mechanism applied to the field of economics, and in its essence it has nothing to do with democracy or any other political philosophy.
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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 purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy.
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Good managements produce a good average market price, and bad managements produce bad market prices.
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Undervaluations caused by neglect or prejudice may persist for an inconveniently long time, and the same applies to inflated prices caused by over-enthusiasm or artificial stimulants.
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It’s nonsensical to derive a price/earnings ratio by dividing the known current price by unknown future earnings.
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The world has not learned the technique of balanced expansion without the resultant commercial and financial congestion.
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The intelligent investor gets interested in big growth stocks not when they are at their most popular – but when something goes wrong.
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At heart, “uncertainty” and “investing” are synonyms.
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Thus the important and difficult part of sound investment, which hinges upon the investor’s own temperament and attitude, is not much affected by the passing years.
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You must never delude yourself into thinking that you’re investing when you’re speculating.
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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.
BENJAMIN GRAHAM