Benjamin Graham Quotes

45 quotes in 650 categories

• The investor's chief problem - and even his worst enemy - is likely to be himself.
• The individual investor should act consistently as an investor and not as a speculator. This means ... that he should be able to justify every…
• The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must be adapted to significant changes…
• If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume.
• Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety.
• In the short run, the market is a voting machine, but in the long run it is a weighing machine.
• Buy not on optimism, but on arithmetic.
• I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities.
• As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily against him.
• Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.
• To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.
• The intelligent investor is likely to need considerable will power to keep from following the crowd.
• It is absurd to think that the general public can ever make money out of market forecasts.
• When somebody asserts that a stock has an earning power of so much, I am sure that the person who hears him doesn't know what…
• The correct attitude of the security analyst toward the stock market might well be that of a man toward his wife. He shouldn't pay too…
• An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return.
• Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.
• It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses…
• A stock is not just a ticker symbol or an electronic blip; it is an ownership interest in an actual business, with an underlying value…
• Obvious prospects for physical growth in a business do not translate into obvious profits for investors.

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