Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
BENJAMIN GRAHAMThousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
BENJAMIN GRAHAMAn investor calculates what a stock is worth, based on the value of its businesses.
BENJAMIN GRAHAMDo not let anyone else run your business
BENJAMIN GRAHAMStock speculation is largely a matter of A trying to decide what B, C and D are likely to think-with B, C and D trying to do the same.
BENJAMIN GRAHAMInvesting isn’t about beating others at their game. It’s about controlling yourself at your own game.
BENJAMIN GRAHAMWall Street people learn nothing and forget everything.
BENJAMIN GRAHAMA speculator gambles that a stock will go up in price because somebody else will pay even more for it.
BENJAMIN GRAHAMEven defensive portfolios should be changed from time to time, especially if the securities purchased have an apparently excessive advance and can be replaced by issues much more reasonable priced.
BENJAMIN GRAHAMMost of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble… to give way to hope, fear and greed.
BENJAMIN GRAHAMThe intelligent investor gets interested in big growth stocks not when they are at their most popular – but when something goes wrong.
BENJAMIN GRAHAMThe only thing you should do with pro forma earnings is ignore them.
BENJAMIN GRAHAMThe investor’s chief problem – and even his worst enemy – is likely to be himself.
BENJAMIN GRAHAMThe intelligent investor is a realist who sells to optimists and buys from pessimists.
BENJAMIN GRAHAMBoth 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.
BENJAMIN GRAHAMTo achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.
BENJAMIN GRAHAMPrice 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.
BENJAMIN GRAHAM