The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices.
BENJAMIN GRAHAMIn 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.
More Benjamin Graham Quotes
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To be an investor you must be a believer in a better tomorrow.
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Why should the cotton growers suffer if there is shortage of wheat?
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The value of any investment is, and always must be, a function of the price you pay for it.
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Successful investing is about managing risk, not avoiding it.
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By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be destroyed.
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You must never delude yourself into thinking that you’re investing when you’re speculating.
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The modern world is not geared properly to the storage of goods.
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The money cost of the reservoir plan literally fades into insignificance when it is compared with the financial burden which the great depression imposed on the nation.
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The function of the margin of safety is, in essence, that of rendering unnecessary an accurate estimate of the future.
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I quickly convinced myself that the true key to material happiness lay in a modest standard of living which could be achieved with little difficulty under almost all economic conditions.
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Losing some money is an inevitable part of investing, and there’s nothing you can do to prevent it. But to be an intelligent investor, you must take responsibility for ensuring that you never lose most or all of your money.
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By developing your discipline and courage, you can refuse to let other people’s mood swings govern your financial destiny. In the end, how your investments behave is much less important than how you behave.
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Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.
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Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.
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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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