In the short run, the market is a voting machine, but in the long run it is a weighing machine.
BENJAMIN GRAHAMThe market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.
More Benjamin Graham Quotes
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Do not let anyone else run your business
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The intelligent investor is likely to need considerable will power to keep from following the crowd.
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Both a priori reasoning and experience teach us that as as these funds grow larger the geometrical rate of growth by compound interest ultimately defeats itself.
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Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
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Experience teaches that the time to buy stocks is when their price is unduly depressed by temporary adversity. In other words, they should be bought on a bargain basis or not at all.
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We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more that it is selling for.
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The people of the United States will not tolerate another deep depression that arises not from any lack of natural resources, productive capacity or man and brain power, but solely from imperfections in the functioning of the system of finance capitalism.
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Stocks can be dynamite.
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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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While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster
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We have not known a single person who has consistently or lastingly make money by thus “following the market”. We do not hesitate to declare this approach is as fallacious as it is popular.
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Before you invest, you must ensure that you have realistically assessed your probability of being right and how you will react to the consequences of being wrong.
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The memory of the financial community is proverbially and distressingly short.
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An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd.
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Before you place your financial future in the hands of an adviser, it’s imperative that you find someone who not only makes you comfortable but whose honesty is beyond reproach.
BENJAMIN GRAHAM