An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd. — 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
The intelligent investor is likely to need considerable will power to keep from following the crowd. — Benjamin Graham Copy Share Image
In the short run, the market is a voting machine, but in the long run it is a weighing machine. — 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
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
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
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
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 intelligent investor shouldn't ignore Mr. Market entirely. Instead, you should do business with him- but only to the extent that it… — 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
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
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
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
We are convinced that the intelligent investor can derive satisfactory results from pricing of either type (market timing or fundamental analysis via… — Benjamin Graham Copy Share Image
The intelligent investor is a realist who sells to optimists and buys from pessimists. — 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
