The thing that I have been emphasizing in my own work for the last few years has been the group approach. To try to buy groups of stocks that meet some simple criterion for being undervalued-regardless of the industry and with very little attention to the individual company.
BENJAMIN GRAHAMThousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
More Benjamin Graham Quotes
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Investing is most intelligent when it is most businesslike.
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Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.
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The modern world is not geared properly to the storage of goods.
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I quickly convinced myself that the true key to material happiness lay in a modest standard of living which could be achieved with little difficulty under almost all economic conditions.
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Buy not on optimism, but on arithmetic.
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Why should the cotton growers suffer if there is shortage of wheat?
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Confusing speculation with investment is always a mistake.
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There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that market.
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At heart, “uncertainty” and “investing” are synonyms.
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High valuations entail high risks.
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The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies.
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Every corporate security may be best viewed, in the first instance, as an ownership interest in, or a claim against, a specific business enterprise.
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Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.
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Rather should we say that the market is a voting machine, whereon countless individuals register choices which are the product partly of reason and partly of emotion.
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To establish the right price for a stock, the market must have adequate information, but it by no means follows that is the market has this information it will thereupon establish the right price.
BENJAMIN GRAHAM