... 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
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 story of Joseph in Egypt and of the seven fat and the seven lean years has passed into the homely wisdom… — Benjamin Graham Copy Share Image
It requires strength of character in order to think and to act in opposite fashion from the crowd and also patience to… — Benjamin Graham Copy Share Image
If I have noticed anything over these 60 years on Wall Street, it is that people do not succeed in forecasting what's… — 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 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
Instead of passing blithely over into that Promised Land, flowing almost literally with milk and honey, it may be our destiny to… — 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 history of the past fifty years, and longer, indicates that a diversified holding of representative common stocks will prove more profitable… — Benjamin Graham Copy Share Image
Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times… — Benjamin Graham Copy Share Image
Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same.… — 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
