If fees consume more than 1% of your assets annually, you should probably shop for another adviser.
BENJAMIN GRAHAMSuccessful investment may become substantially a matter of techniques and criteria that are learnable, rather than the product of unique and incommunicable mental powers.
More Benjamin Graham Quotes
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In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced, then duck into the bunker of bonds and cash until stocks again become cheap enough to buy.
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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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If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume.
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Stocks can be dynamite.
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The intelligent investor gets interested in big growth stocks not when they are at their most popular – but when something goes wrong.
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Most businesses change in character and quality over the years, sometimes for the better, perhaps more often for the worse. The investor need not watch his companies’ performance like a hawk; but he should give it a good, hard look from time to time.
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Buy not on optimism, but on arithmetic.
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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.
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The investor’s chief problem – and even his worst enemy – is likely to be himself.
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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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Never buy a stock because it has gone up or sell one because it has gone down.
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It’s nonsensical to derive a price/earnings ratio by dividing the known current price by unknown future earnings.
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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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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
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Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.
BENJAMIN GRAHAM