Customer Quote by Benjamin Graham
““An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.””
About This Quote
Source Book: The Intelligent Investor, 1949
An investment is safe and worthwhile only if thorough analysis shows principal protection and adequate return; otherwise it is speculative.
In simple terms: Safe investments are well‑analyzed; speculative ones are not.
Key Takeaway
Conduct deep analysis before investing.
Themes
finance
investment
analysis
risk
speculation
Mood
cautious
analytical
Type
prescriptive
educational
When to use this quote
- portfolio building
- financial planning
- risk assessment
- market research
Key Concepts
value investing
risk management
due diligence
Questions to Reflect On
- What criteria define “adequate return” for you?
- How do you differentiate speculation from risk?
A Different Perspective
Analysis can never eliminate all uncertainty.
![“A good starting point [in the measurement of investment risk] is the preservation and enhancement of your purchasing power in real terms.” quote by David Dreman](https://sms4smile.com/quotes/img-quotes/3e3/david-dreman-29428_enhancement_a-good-starting-point-in-the-measurement_2846351.jpg)
