"In other words, the market is not a……" — Benjamin Graham
"In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in accordance with its specific qualities. Rather should we say that the market is a voting machine, whereon countless individuals register choices which are the product partly of reason and partly of emotion."
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Benjamin Graham
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45 Quotes by Benjamin Graham
Benjamin Graham has 45 quotes on this site.
A few more worth reading:
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The investor's chief problem - and even his worst enemy - is likely to be himself.
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The individual investor should act consistently as an investor and not as a speculator. This means ... that he should…
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The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must…
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If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would…
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Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of…
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In the short run, the market is a voting machine, but in the long run it is a weighing machine.
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Buy not on optimism, but on arithmetic.
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I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities.
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As in roulette, same is true of the stock trader, who will find that the expense of trading weights the…
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Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they…
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To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.
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The intelligent investor is likely to need considerable will power to keep from following the crowd.
See all 45 quotes by Benjamin Graham »
More Accordance Quotes
This quote is filed under Accordance Quotes,
one of 228 quotes in that category. Here are a few more:
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As we were baptized, so we profess our belief. As we profess our belief, so also we offer praise. As…
— Saint Basil
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Every individual acts and suffers in accordance with his peculiar teleology, which has all the inevitability of fate, so long…
— Alfred Adler
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Logic: The art of thinking and reasoning in strict accordance with the limitations and incapacities of the human misunderstanding.
— Ambrose Bierce
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This resolution simply says Israel has the right to defend itself. This includes conducting operations both inside its borders and…
— John Boehner
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In full accordance with the law - and in order to prevent terrorist attacks on the United States and to…
— John O. Brennan
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I have been committed to carrying out my duties... in accordance with both the letter and spirit of all applicable…
— Samuel Alito
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When we pray "in the Name of Jesus" the answers are in accordance with His nature, and if we think…
— Oswald Chambers
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As water shapes its flow in accordance with the ground, so an army manages its victory in accordance with the…
— Sun Tzu
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No matter how old an individual may be, no matter if he is young or old, if he thinks in…
— Nnamdi Azikiwe
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You can be anything you want to be, if only you believe with sufficient conviction and act in accordance with…
— Napoleon Hill
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All art is concerned with coming into being; for it is concerned neither with things that are, or come into…
— Aristotle
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Common sense is science exactly in so far as it fulfills the ideal of common sense; that is, sees facts…
— Thomas Huxley
See all 228 Accordance Quotes »