It is absurd to think that the general public can ever make money out of market forecasts.
BENJAMIN GRAHAMDiversification is an established tenet of conservative investment.
More Benjamin Graham Quotes
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A great company is not a great investment if you pay too much for the stock.
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I am more and more impressed with the possibilities of history’s repeating itself on many different counts. You don’t get very far in Wall Street with the simple, convenient conclusion that a given level of prices is not too high.
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An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return.
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The most striking thing about Graham’s discussion of how to allocate your assets between stocks and bonds is that he never mentions the word “age”.
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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 achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.
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Never buy a stock because it has gone up or sell one because it has gone down.
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… the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street.
BENJAMIN GRAHAM -
Price 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 -
I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities.
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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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Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.
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Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least some of the individual issues.
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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
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People 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.
BENJAMIN GRAHAM