There is no reason to feel any shame in hiring someone to pick stocks or mutual funds for you. But there’s one responsibility that you must never delegate. You, and no one but you, must investigate whether an adviser is trustworthy and charges reasonable fees.
BENJAMIN GRAHAMWhether we like it or not, government intervention in the face of surplus is here to stay.
More Benjamin Graham Quotes
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Always buy your straw hats in the Winter
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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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The defensive (or passive) investor will place chief emphasis on the avoidance of serious mistakes or losses. His second aim will be freedom from effort, annoyance, and the need for making frequent decisions.
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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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It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits. These virtues, if channeled in the wrong directions, become indistinguishable from handicaps.
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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.
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To be an investor you must be a believer in a better tomorrow.
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The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.
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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
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Never buy a stock because it has gone up or sell one because it has gone down.
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Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.
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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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Stocks can be dynamite.
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The intelligent investor is a realist who sells to optimists and buys from pessimists.
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Do not let anyone else run your business
BENJAMIN GRAHAM