Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your… — Benjamin Graham Copy Share Image
Intelligent investment is more a matter of mental approach than it is of technique. A sound mental approach toward stock fluctuations is… — 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
To enjoy a reasonable chance for continued better than average results, the investor must follow policies which are (1) inherently sound and… — Benjamin Graham Copy Share Image
Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety. — Benjamin Graham Copy Share Image
The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must be adapted… — Benjamin Graham Copy Share Image
The determining trait of the enterprising (or active, or aggressive) investor is his willingness to devote time and care to the selection… — Benjamin Graham Copy Share Image
It is our argument that a sufficiently low price can turn a security of mediocre quality into a sound investment opportunity -… — 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
we have complaints that institutional dominance of the stock market has put 'the small investor at a disadvantage because he can't compete… — Benjamin Graham Copy Share Image
Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same.… — Benjamin Graham Copy Share Image
A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than… — 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
