Adequate Quote by Benjamin Graham

Selling, in particular, can be a challenge; many investors are tempted to become more optimistic when a security is performing well. This temptation must…

— Seth Klarman

“This paradox exists because most investors think quality, as opposed to price, is the determinant of whether something's risky. But high quality assets can…

— Howard Marks

The latest trade of a security creates a dangerous illusion that its market price approximates its true value. This mirage is especially dangerous during…

— Seth Klarman

“A high-quality asset can constitute a good or bad buy, and a low-quality asset can constitute a good or bad buy. The tendency to…

— Howard Marks

In the financial markets, however, the connection between a marketable security and the underlying business is not as clear-cut. For investors in a marketable…

— Seth Klarman

The only real security is in having lots of opportunity. But risk is the price to pay for opportunity. And risk is scary.

— Robert G. Allen

“Understanding the value of a security and whether it's trading above or below that value is the difference between investing and speculating.”

— Coreen T. Sol

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

In an efficient market at any point in time the actual price of a security will be a good estimate of its intrinsic value.

— Eugene Fama

The difference between the price we pay for a stock and its liquidation value gives us a margin of safety. This kind of investing…

— Peter Cundill

I put heavy weight on certainty. It's not risky to buy securities at a fraction of what they're worth.

— Warren Buffett

“no amount of money could buy security, and if it could, it would be a bad bargain at any price, since security was a…

— Tom Robbins