Before you place your financial future in the hands of an adviser, it's imperative that you find someone who not only makes… — Benjamin Graham Copy Share Image
Never mingle your speculative and investment operations in the same account nor in any part of your thinking. — Benjamin Graham Copy Share Image
The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher… — Benjamin Graham Copy Share Image
An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. — Benjamin Graham Copy Share Image
The true investor... will do better if he forgets about the stock market and pays attention to his dividend returns and to… — Benjamin Graham Copy Share Image
Knowledge is only one ingredient on arriving at a stock's proper price. The other ingredient, fully as important as information, is sound… — Benjamin Graham Copy Share Image
In the old legend the wise men finally boiled down the history of mortal affairs into a single phrase: 'This too will… — Benjamin Graham Copy Share Image
The most striking thing about Graham's discussion of how to allocate your assets between stocks and bonds is that he never mentions… — Benjamin Graham Copy Share Image
Even defensive portfolios should be changed from time to time, especially if the securities purchased have an apparently excessive advance and can… — Benjamin Graham Copy Share Image
The best way to measure your investing success is not by whether you're beating the market but by whether you've put in… — Benjamin Graham Copy Share Image
The investor who permits himself to be stampeded or unduly worried by unjustified market declines in his holdings is perversely transforming his… — Benjamin Graham Copy Share Image
In most cases the favorable price performance will be accompanied by a well-defined improvement in the average earnings, in the dividend, and… — Benjamin Graham Copy Share Image
To have a true investment, there must be a true margin of safety. And a true margin of safety is one that… — Benjamin Graham Copy Share Image
Speculators often prosper through ignorance; it is a cliché that in a roaring bull market knowledge is superfluous and experience is a… — Benjamin Graham Copy Share Image
Mr. Market does not always price stocks the way an appraiser or a private buyer would value a business. Instead, when stocks… — Benjamin Graham Copy Share Image
The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines… — Benjamin Graham Copy Share Image
Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions… — Benjamin Graham Copy Share Image
“risks therein must be assumed by someone. * There is intelligent speculation as there is intelligent investing. But there are many ways… — Benjamin Graham Copy Share Image
The art of investment has one characteristic that is not generally appreciated. A creditable, if unspectacular, result can be achieved by the… — Benjamin Graham Copy Share Image
The investor has the benefit of the stock market's daily and changing appraisal of his holdings, 'for whatever that appraisal may be… — Benjamin Graham Copy Share Image
Traditionally the investor has been the man with patience and the courage of his convictions who would buy when the harried or… — Benjamin Graham Copy Share Image
Good managements produce a good average market price, and bad managements produce bad market prices. — Benjamin Graham Copy Share Image
Investing isn't about beating others at their game. It's about controlling yourself at your own game. — Benjamin Graham Copy Share Image
There is a close logical connection between the concept of a safety margin and the principle of diversification. — Benjamin Graham Copy Share Image
The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard. — Benjamin Graham Copy Share Image
There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries… — Benjamin Graham Copy Share Image
The intelligent investor gets interested in big growth stocks not when they are at their most popular - but when something goes… — Benjamin Graham Copy Share Image
No statement is more true and better applicable to Wall Street than the famous warning of Santayana: "Those who do not remember… — Benjamin Graham Copy Share Image
Successful investment may become substantially a matter of techniques and criteria that are learnable, rather than the product of unique and incommunicable… — Benjamin Graham Copy Share Image
Before you invest, you must ensure that you have realistically assessed your probability of being right and how you will react to… — Benjamin Graham Copy Share Image
Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it. — Benjamin Graham Copy Share Image
If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume. — Benjamin Graham Copy Share Image
For 99 issues out of 100 we could say that at some price they are cheap enough to buy and at some… — Benjamin Graham Copy Share Image
As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily… — Benjamin Graham Copy Share Image
By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be… — Benjamin Graham Copy Share Image
Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop. — Benjamin Graham Copy Share Image
Stock speculation is largely a matter of A trying to decide what B, C and D are likely to think-with B, C… — Benjamin Graham Copy Share Image
Nothing important on Wall Street can be counted on to occur exactly in the same way as it happened before. — Benjamin Graham Copy Share Image
To see how much a company is truly earning on the capital it deploys in its businesses, look beyond EPS to Return… — Benjamin Graham Copy Share Image
Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least… — Benjamin Graham Copy Share Image
The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy. — Benjamin Graham Copy Share
There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that… — Benjamin Graham Copy Share
Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap. — Benjamin Graham Copy Share
It must be fundamentally wrong to reduce production of food and fiber while one-third of our population is still ill fed and ill clothed. — Benjamin Graham Copy Share
The intelligent investor is a realist who sells to optimists and buys from pessimists. — Benjamin Graham Copy Share
Intelligent investment is more a matter of mental approach than it is of technique. A sound mental approach toward stock fluctuations is the touchstone… — Benjamin Graham Copy Share
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… — Benjamin Graham Copy Share
The art of investment has one characteristic that is not generally appreciated. A creditable, if unspectacular, result can be achieved by the lay investor… — Benjamin Graham Copy Share
We have not known a single person who has consistently or lastingly make money by thus "following the market". We do not hesitate to… — Benjamin Graham Copy Share
The essence of investment management is the management of risks, not the management of returns. — Benjamin Graham Copy Share
In security analysis the prime stress is laid upon protection against untoward events. We obtain this protection by insisting upon margins of safety, or… — Benjamin Graham Copy Share
Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop. — Benjamin Graham Copy Share
Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of good… — Benjamin Graham Copy Share
No matter how careful you are, the one risk no investor can ever eliminate is the risk of being wrong. Only by insisting on… — Benjamin Graham Copy Share
