there is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present financial picture.
BENJAMIN GRAHAMPeople 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.
More Benjamin Graham Quotes
-
-
The investor who permits himself to be stampeded or unduly worried by unjustified market declines in his holdings is perversely transforming his basic advantage into a basic disadvantage.
BENJAMIN GRAHAM -
Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety.
BENJAMIN GRAHAM -
Investing isn’t about beating others at their game. It’s about controlling yourself at your own game.
BENJAMIN GRAHAM -
Successful investing is about managing risk, not avoiding it.
BENJAMIN GRAHAM -
A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.
BENJAMIN GRAHAM -
There is a close logical connection between the concept of a safety margin and the principle of diversification.
BENJAMIN GRAHAM -
Never mingle your speculative and investment operations in the same account nor in any part of your thinking.
BENJAMIN GRAHAM -
Good managements produce a good average market price, and bad managements produce bad market prices.
BENJAMIN GRAHAM -
The existence of such a war chest might go far to strengthen our prestige and frighten off any would be assailant.
BENJAMIN GRAHAM -
You must never delude yourself into thinking that you’re investing when you’re speculating.
BENJAMIN GRAHAM -
If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume.
BENJAMIN GRAHAM -
The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard.
BENJAMIN GRAHAM -
The intelligent investor is likely to need considerable will power to keep from following the crowd.
BENJAMIN GRAHAM -
The function of the margin of safety is, in essence, that of rendering unnecessary an accurate estimate of the future.
BENJAMIN GRAHAM -
Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it – even though others may hesitate or differ.
BENJAMIN GRAHAM