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
When somebody asserts that a stock has an earning power of so much, I am sure that the person who hears him… — Benjamin Graham Copy Share Image
The investor should be aware that even though safety of its principal and interest may be unquestioned, a long term bond could… — Benjamin Graham Copy Share Image
The ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price… — Benjamin Graham Copy Share Image
“Many skeptics, it is true, are inclined to dismiss the whole procedure [chart reading] as akin to astrology or necromancy; but the… — Benjamin Graham Copy Share Image
In nine companies out of ten the factor of fluctuation has been a more dominant and important consideration in the matter of… — Benjamin Graham Copy Share Image
Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the… — Benjamin Graham Copy Share Image
“They ignored Graham’s warning that “the really dreadful losses” always occur after “the buyer forgot to ask ‘How much?’” Most painfully of… — Benjamin Graham Copy Share Image
It always seemed, and still seems, ridiculously simple to say that if one can acquire a diversified group of common stocks at… — Benjamin Graham Copy Share Image
... the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that… — Benjamin Graham Copy Share Image
“From these two broad examples we draw two morals for our readers: Obvious prospects for physical growth in a business do not… — Benjamin Graham Copy Share Image
“closed at $1.19 per share. Weighing the evidence objectively, the intelligent investor should conclude that IPO does not stand only for “initial… — Benjamin Graham Copy Share Image
Price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices… — Benjamin Graham Copy Share Image
Individual security bargains may be located by the process of security analysis practically at any time. They can be bought with good… — Benjamin Graham Copy Share Image
“The one principle that applies to nearly all these so-called “technical approaches” is that one should buy because a stock or the… — 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
To establish the right price for a stock, the market must have adequate information, but it by no means follows that is… — 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
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
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
![“Many skeptics, it is true, are inclined to dismiss the whole procedure [chart reading] as akin to astrology or necromancy; but the sheer weight of its importance in Wall Street requires that its pretensions be examined with some degree of care.” quote by Benjamin Graham](https://sms4smile.com/quotes/img-quotes/099/benjamin-graham-1531_customer_many-skeptics-it-is-true-are-inclined-to_2452676.jpg)
