there is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present… — Benjamin Graham Copy Share Image
In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a… — Benjamin Graham Copy Share Image
The sillier the market's behavior, the greater the opportunity for the business like investor. — Benjamin Graham Copy Share Image
The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks. — Benjamin Graham Copy Share Image
The genuine investor in common stocks does not need a great equipment of brain and knowledge, but he does need some unusual… — Benjamin Graham Copy Share Image
It's nonsensical to derive a price/earnings ratio by dividing the known current price by unknown future earnings. — Benjamin Graham Copy Share Image
Wall Street has a few prudent principles; the trouble is that they are always forgotten when they are most needed. — Benjamin Graham Copy Share Image
Nearly everyone interested in common stocks wants to be told by someone else what he thinks the market is going to do.… — Benjamin Graham Copy Share Image
The individual investor should act consistently as an investor and not as a speculator. This means ... that he should be able… — Benjamin Graham Copy Share Image
The investor has a right to expect good results to flow from a consistent and courageous application of the principle of buying… — Benjamin Graham Copy Share Image
In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced,… — Benjamin Graham Copy Share Image
By developing your discipline and courage, you can refuse to let other people's mood swings govern your financial destiny. In the end,… — Benjamin Graham Copy Share Image
Losing some money is an inevitable part of investing, and there's nothing you can do to prevent it. But to be an… — Benjamin Graham Copy Share Image
I am more and more impressed with the possibilities of history's repeating itself on many different counts. You don't get very far… — Benjamin Graham Copy Share Image
The thing that I have been emphasizing in my own work for the last few years has been the group approach. To… — Benjamin Graham Copy Share Image
Most businesses change in character and quality over the years, sometimes for the better, perhaps more often for the worse. The investor… — Benjamin Graham Copy Share Image
The reader can test his own psychology by asking himself whether he would consider, in retrospect, the selling at 156 in 1925… — 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
The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies. — Benjamin Graham Copy Share Image
An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd. — Benjamin Graham Copy Share Image
Calculate a stock's price/earnings ratio yourself, using Graham's formula of current price divided by average earnings over the past three years. — Benjamin Graham Copy Share Image
The volume of credit depends upon three factors: the desire to borrow, the ability to lend and the desire to lend. — Benjamin Graham Copy Share Image
The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern. — Benjamin Graham Copy Share Image
The intelligent investor is likely to need considerable will power to keep from following the crowd. — Benjamin Graham Copy Share Image
The investor's primary interest lies in acquiring and holding suitable securities at suitable prices. — Benjamin Graham Copy Share Image
“An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements… — Benjamin Graham Copy Share Image
Obvious prospects for physical growth in a business do not translate into obvious profits for investors. — Benjamin Graham Copy Share Image
We urge the beginner in security buying not to waste his efforts and his money in trying to beat the market. Let… — Benjamin Graham Copy Share Image
It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end… — Benjamin Graham Copy Share Image
There is no reason to feel any shame in hiring someone to pick stocks or mutual funds for you. But there's one… — Benjamin Graham Copy Share Image
“A strong-minded approach to investment, firmly based on the margin-of-safety principle, can yield handsome rewards. But a decision to try for these… — Benjamin Graham Copy Share Image
“this book will teach you three powerful lessons: how you can minimize the odds of suffering irreversible losses; how you can maximize… — Benjamin Graham Copy Share Image
No matter how careful you are, the one risk no investor can ever eliminate is the risk of being wrong. Only by… — 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
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
“The "new-era" doctrine - that "good" stocks (or "blue chips") were sound investments regardless of how high the price paid for them… — Benjamin Graham Copy Share Image
Real investment risk is measured not by the percent that a stock may decline in price in relation to the general market… — Benjamin Graham Copy Share Image
The value of the security analyst to the investor depends largely on the investor's own attitude. If the investor asks the analyst… — 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
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
