Knowledge is only one ingredient on arriving at a stock’s proper price. The other ingredient, fully as important as information, is sound judgment.
BENJAMIN GRAHAMThe chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
More Benjamin Graham Quotes
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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.
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Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it.
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You must never delude yourself into thinking that you’re investing when you’re speculating.
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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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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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Many progressive economists insist that gold is now in essentially the same position as silver and that the arguments the simon-pure gold advocates use against the white metal can be directed with equal effect against their own fetish.
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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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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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If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume.
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At heart, “uncertainty” and “investing” are synonyms.
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Successful investing is about managing risk, not avoiding it.
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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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Successful investment may become substantially a matter of techniques and criteria that are learnable, rather than the product of unique and incommunicable mental powers.
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there is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present financial picture.
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Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.
BENJAMIN GRAHAM