Able Quote by Benjamin Graham
“The reader can test his own psychology by asking himself whether he would consider, in retrospect, the selling at 156 in 1925 and buying back at 109 in 1931 was a satisfactory operation. Some may think that an intelligent investor should have been able to sell out much closer to the high of 381 and to buy back nearer the low of 41. If that is your own view you are probably a speculator at heart and will have trouble keeping to true investment precepts while the market rushes up and down.”
About This Quote
Source Book: The Intelligent Investor by Benjamin Graham, 1949
Investors should evaluate past trades against market extremes to avoid speculative behavior and adhere to disciplined investing.
In simple terms: Assess trades, avoid speculation.
Key Takeaway
Stick to disciplined investment principles.
Themes
investment
discipline
speculation
Mood
analytical
practical
Type
financial
educational
When to use this quote
- portfolio review
- risk management
- financial planning
Key Concepts
value investing
market cycles
psychology
Questions to Reflect On
- How can you improve investment discipline?
- What metrics help evaluate trade success?
A Different Perspective
Market timing is often impossible.
