Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.
BENJAMIN GRAHAMDiversification is an established tenet of conservative investment.
More Benjamin Graham Quotes
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At heart, “uncertainty” and “investing” are synonyms.
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The true investor… will do better if he forgets about the stock market and pays attention to his dividend returns and to the operation results of his companies.
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Stock 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.
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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.
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Many progressive economists insist that gold is now in essentially the same position as silver and that the arguments the simon-pure gold advocates use against the white metal can be directed with equal effect against their own fetish.
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In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in accordance with its specific qualities.
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Why should the cotton growers suffer if there is shortage of wheat?
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The existence of such a war chest might go far to strengthen our prestige and frighten off any would be assailant.
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Stocks can be dynamite.
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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
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The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices.
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The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.
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To enjoy a reasonable chance for continued better than average results, the investor must follow policies which are (1) inherently sound and promising, and (2) not popular on Wall Street.
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Intelligent investment is more a matter of mental approach than it is of technique. A sound mental approach toward stock fluctuations is the touchstone of all successful investment under present-day conditions.
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Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same.
BENJAMIN GRAHAM