Never buy a stock because it has gone up or sell one because it has gone down. — Benjamin Graham Copy Share Image
A great company is not a great investment if you pay too much for the stock. — Benjamin Graham Copy Share Image
Diversification is an established tenet of conservative investment. — Benjamin Graham Copy Share Image
It is absurd to think that the general public can ever make money out of market forecasts. — Benjamin Graham Copy Share Image
The intelligent investor is a realist who sells to optimists and buys from pessimists. — Benjamin Graham Copy Share Image
Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains. — Benjamin Graham Copy Share Image
The stock market resembles a huge laundry in which institutions take in large blocks of each others washing ... without rhyme or reason. — Benjamin Graham Copy Share Image
Although there are good and bad companies, there is no such thing as a good stock; there are only good stock prices,… — Benjamin Graham Copy Share Image
A stock is not just a ticker symbol or an electronic blip; it is an ownership interest in an actual business, with… — Benjamin Graham Copy Share Image
If I have noticed anything over these 60 years on Wall Street, it is that people do not succeed in forecasting what's… — Benjamin Graham Copy Share Image
If fees consume more than 1% of your assets annually, you should probably shop for another adviser. — Benjamin Graham Copy Share Image
While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster — Benjamin Graham Copy Share Image
The best values today are often found in the stocks that were once hot and have since gone cold. — Benjamin Graham Copy Share Image
A speculator gambles that a stock will go up in price because somebody else will pay even more for it. — Benjamin Graham Copy Share Image
People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall… — Benjamin Graham Copy Share Image
Mr. Market's job is to provide you with prices; your job is to decide whether it is to your advantage to act… — Benjamin Graham Copy Share Image
The defensive (or passive) investor will place chief emphasis on the avoidance of serious mistakes or losses. His second aim will be… — Benjamin Graham Copy Share Image
“I have little confidence even in the ability of analysts, let alone untrained investors, to select common stocks that will give better… — Benjamin Graham Copy Share Image
If we assume that there are normal or standard income results to be obtained from investing money in securities, then the role… — 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
THERE is widespread agreement among economists that abuse of credit constitutes one of the chief unwholesome elements in business booms and is… — Benjamin Graham Copy Share Image
Whenever the investor sold out in an upswing as soon as the top level of the previous well-recognized bull market was reached,… — 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
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
“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
“We recommended that the investor divide his holdings between high-grade bonds and leading common stocks; that the proportion held in bonds be… — Benjamin Graham Copy Share Image
The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator's primary interest… — 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
“Graham developed his core principles, which are at least as valid today as they were during his lifetime: A stock is not… — 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
An investor calculates what a stock is worth, based on the value of its businesses. — Benjamin Graham Copy Share Image
The investor's chief problem - and even his worst enemy - is likely to be himself. — Benjamin Graham Copy Share Image
“Only by insisting on what Graham called the “margin of safety”—never overpaying, no matter how exciting an investment seems to be—can you… — Benjamin Graham Copy Share Image
The essence of investment management is the management of risks, not the management of returns. — Benjamin Graham Copy Share Image
To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks. — Benjamin Graham Copy Share Image
“The stock investor is neither right or wrong because others agreed or disagreed with him; he is right because his facts and… — 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 Image
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 Image
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 Image
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 Image
The intelligent investor is a realist who sells to optimists and buys from pessimists. — 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 the touchstone… — Benjamin Graham Copy Share Image
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 Image
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 Image
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 Image
The essence of investment management is the management of risks, not the management of returns. — Benjamin Graham Copy Share Image
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 Image
