Never mingle your speculative and investment operations in the same account nor in any part of your thinking. — Benjamin Graham Copy Share Image
Before you place your financial future in the hands of an adviser, it's imperative that you find someone who not only makes… — 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 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 purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an… — Benjamin Graham Copy Share Image
I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities. — Benjamin Graham Copy Share Image
The true investor... will do better if he forgets about the stock market and pays attention to his dividend returns and to… — 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
“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
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
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
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
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
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
Mathematics is ordinarily considered as producing precise and dependable results; but in the stock market the more elaborate and abstruse the mathematics… — 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
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
An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. — Benjamin Graham Copy Share Image
The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher… — Benjamin Graham Copy Share Image
Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored. — Benjamin Graham Copy Share Image
Individuals who cannot master their emotions are ill-suited to profit from the investment process. — Benjamin Graham Copy Share Image
To see how much a company is truly earning on the capital it deploys in its businesses, look beyond EPS to Return… — Benjamin Graham Copy Share Image
Nothing important on Wall Street can be counted on to occur exactly in the same way as it happened before. — Benjamin Graham Copy Share Image
Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least… — 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
Stock speculation is largely a matter of A trying to decide what B, C and D are likely to think-with B, C… — Benjamin Graham Copy Share Image
Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop. — Benjamin Graham Copy Share Image
For 99 issues out of 100 we could say that at some price they are cheap enough to buy and at some… — Benjamin Graham Copy Share Image
By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be… — 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
Successful investment may become substantially a matter of techniques and criteria that are learnable, rather than the product of unique and incommunicable… — Benjamin Graham Copy Share Image
No statement is more true and better applicable to Wall Street than the famous warning of Santayana: "Those who do not remember… — Benjamin Graham Copy Share Image
Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it. — Benjamin Graham Copy Share Image
Before you invest, you must ensure that you have realistically assessed your probability of being right and how you will react to… — Benjamin Graham Copy Share Image
The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard. — 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… — 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
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
