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
“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
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
Since we have emphasized that analysis will lead to a positive conclusion only in the exceptional case, it follows that many securities… — 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
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
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
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
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
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
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
It is a fact worth pondering that four centuries ago the evil of "an abundance or surplus" arose from its being kept… — 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 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
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 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
