--- title: "Meaning & Key Takeaway of: In an ideal world, the intelligent…" description: "\"In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced, then duck into the bu..." image: "https://sms4smile.com/quotes/i/ac6/benjamin-graham-1531_bunkers_in-an-ideal-world-the-intelligent-invest_1807434.jpg" --- # In an ideal world, the intelligent investor would hold… ![“In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced, then duck into the bunker of bonds and cash until stocks again become cheap enough to buy.” quote by Benjamin Graham](https://sms4smile.com/quotes/i/ac6/benjamin-graham-1531_bunkers_in-an-ideal-world-the-intelligent-invest_1807434.jpg) [Download](https://sms4smile.com/quotes/i/ac6/benjamin-graham-1531_bunkers_in-an-ideal-world-the-intelligent-invest_1807434.jpg) [Open image](https://sms4smile.com/quotes/i/ac6/benjamin-graham-1531_bunkers_in-an-ideal-world-the-intelligent-invest_1807434.jpg) > “In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced, then duck into the bunker of bonds and cash until stocks again become cheap enough to buy.” [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Investors should buy undervalued stocks, sell overvalued ones, and hold cash or bonds as a safety net. **In simple terms:** Buy low, sell high, stay safe in cash. Key Takeaway Focus on value and risk management. Themes investment value risk management Mood analytical pragmatic Type financial strategic When to use this quote - stock portfolio planning - bond allocation - cash reserve management - market timing decisions Key Concepts financial strategy market cycles Questions to Reflect On - What metrics define “cheap” for you? - How do you balance patience with opportunity? A Different Perspective Market timing is notoriously difficult; over‑reliance on cheap/expensive labels can miss fundamentals. ★ ★ ★ ★ ★ No ratings yet [Customer](https://sms4smile.com/quotes/about/customer/) [Ducks](https://sms4smile.com/quotes/about/ducks/) [Ideal world](https://sms4smile.com/quotes/about/ideal-world/) [Ideals](https://sms4smile.com/quotes/about/ideals/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investor](https://sms4smile.com/quotes/about/investor/) [Investors](https://sms4smile.com/quotes/about/investors/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.](https://sms4smile.com/quotes/benjamin-graham/those-with-the-enterprise-lack-the-money-and-those-with-the-money/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Liquidity is a good proxy for relative net worth. You can't lie about cash, stocks, and bond values.](https://sms4smile.com/quotes/mark-cuban/liquidity-is-a-good-proxy-for-relative-net-worth-you-can-t-lie-about/) [Mark Cuban](https://sms4smile.com/quotes/author/mark-cuban/) > [In my opinion, the greatest misconception about the market is the idea that if you buy and hold stocks for long periods of time,…](https://sms4smile.com/quotes/victor-sperandeo/in-my-opinion-the-greatest-misconception-about-the-market-is-the-idea/) [Victor Sperandeo](https://sms4smile.com/quotes/author/victor-sperandeo/) > [Hold no more stocks than you can remain informed on.](https://sms4smile.com/quotes/peter-lynch/hold-no-more-stocks-than-you-can-remain-informed-on/) [Peter Lynch](https://sms4smile.com/quotes/author/peter-lynch/) > [An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd.](https://sms4smile.com/quotes/benjamin-graham/an-intelligent-investor-gets-satisfaction-from-the-thought-that-his/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [“Graham developed his core principles, which are at least as valid today as they were during his lifetime: A stock is not just a…](https://sms4smile.com/quotes/benjamin-graham/graham-developed-his-core-principles-which-are-at-least-as-valid/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The intelligent investor is likely to need considerable will power to keep from following the crowd.](https://sms4smile.com/quotes/benjamin-graham/the-intelligent-investor-is-likely-to-need-considerable-will-power-to/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies.](https://sms4smile.com/quotes/benjamin-graham/the-intelligent-investor-should-recognize-that-market-panics-can/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [We are convinced that the intelligent investor can derive satisfactory results from pricing of either type (market timing or fundamental analysis via price). We…](https://sms4smile.com/quotes/benjamin-graham/we-are-convinced-that-the-intelligent-investor-can-derive/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The intelligent investor gets interested in big growth stocks not when they are at their most popular - but when something goes wrong.](https://sms4smile.com/quotes/benjamin-graham/the-intelligent-investor-gets-interested-in-big-growth-stocks-not/) [Benjamin Graham](https://sms4smile.com/quotes/author/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…](https://sms4smile.com/quotes/benjamin-graham/the-reader-can-test-his-own-psychology-by-asking-himself-whether-he/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Losing some money is an inevitable part of investing, and there's nothing you can do to prevent it. But to be an intelligent investor,…](https://sms4smile.com/quotes/benjamin-graham/losing-some-money-is-an-inevitable-part-of-investing-and-there-s/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The intelligent investor is a realist who sells to optimists and buys from pessimists.](https://sms4smile.com/quotes/benjamin-graham/the-intelligent-investor-is-a-realist-who-sells-to-optimists-and-buys/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The intelligent investor shouldn't ignore Mr. Market entirely. Instead, you should do business with him- but only to the extent that it serves your…](https://sms4smile.com/quotes/benjamin-graham/the-intelligent-investor-shouldn-t-ignore-mr-market-entirely-instead/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Benjamin Graham wrote, "Those with enterprise haven't the money, and those with money haven't the enterprise, to buy stocks when they are cheap."](https://sms4smile.com/quotes/seth-klarman/benjamin-graham-wrote-those-with-enterprise-haven-t-the-money-and/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) ## More by Benjamin Graham > [The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy.](https://sms4smile.com/quotes/benjamin-graham/the-purpose-of-this-book-is-to-supply-in-the-form-suitable-for-laymen/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that…](https://sms4smile.com/quotes/benjamin-graham/there-is-something-paradoxical-in-the-fact-that-by-establishing-an/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.](https://sms4smile.com/quotes/benjamin-graham/those-with-the-enterprise-lack-the-money-and-those-with-the-money/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [It must be fundamentally wrong to reduce production of food and fiber while one-third of our population is still ill fed and ill clothed.](https://sms4smile.com/quotes/benjamin-graham/it-must-be-fundamentally-wrong-to-reduce-production-of-food-and-fiber/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The intelligent investor is a realist who sells to optimists and buys from pessimists.](https://sms4smile.com/quotes/benjamin-graham/the-intelligent-investor-is-a-realist-who-sells-to-optimists-and-buys/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Intelligent investment is more a matter of mental approach than it is of technique. A sound mental approach toward stock fluctuations is the touchstone…](https://sms4smile.com/quotes/benjamin-graham/intelligent-investment-is-more-a-matter-of-mental-approach-than-it-is/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Many progressive economists insist that gold is now in essentially the same position as silver and that the arguments the simon-pure gold advocates use…](https://sms4smile.com/quotes/benjamin-graham/many-progressive-economists-insist-that-gold-is-now-in-essentially/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The art of investment has one characteristic that is not generally appreciated. A creditable, if unspectacular, result can be achieved by the lay investor…](https://sms4smile.com/quotes/benjamin-graham/the-art-of-investment-has-one-characteristic-that-is-not-generally/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [We have not known a single person who has consistently or lastingly make money by thus "following the market". We do not hesitate to…](https://sms4smile.com/quotes/benjamin-graham/we-have-not-known-a-single-person-who-has-consistently-or-lastingly/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The essence of investment management is the management of risks, not the management of returns.](https://sms4smile.com/quotes/benjamin-graham/the-essence-of-investment-management-is-the-management-of-risks-not/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Wall Street people learn nothing and forget everything.](https://sms4smile.com/quotes/benjamin-graham/wall-street-people-learn-nothing-and-forget-everything/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [In security analysis the prime stress is laid upon protection against untoward events. We obtain this protection by insisting upon margins of safety, or…](https://sms4smile.com/quotes/benjamin-graham/in-security-analysis-the-prime-stress-is-laid-upon-protection-against/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.](https://sms4smile.com/quotes/benjamin-graham/never-buy-a-stock-immediately-after-a-substantial-rise-or-sell-one/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of good…](https://sms4smile.com/quotes/benjamin-graham/observation-over-many-years-has-taught-us-that-the-chief-losses-to/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [No matter how careful you are, the one risk no investor can ever eliminate is the risk of being wrong. Only by insisting on…](https://sms4smile.com/quotes/benjamin-graham/no-matter-how-careful-you-are-the-one-risk-no-investor-can-ever/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) [Explore all 229 Benjamin Graham quotes ](https://sms4smile.com/quotes/author/benjamin-graham/) ## More Bunkers quotes > [Don't fire until you see the whites of their eyes!](https://sms4smile.com/quotes/william-h-prescott/don-t-fire-until-you-see-the-whites-of-their-eyes/) [William H. Prescott](https://sms4smile.com/quotes/author/william-h-prescott/) > [If your opponent is playing several shots in vain attempts to extricate himself from a bunker, do not stand near him and audibly count…](https://sms4smile.com/quotes/harry-vardon/if-your-opponent-is-playing-several-shots-in-vain-attempts-to/) [Harry Vardon](https://sms4smile.com/quotes/author/harry-vardon/) > [If mass media, social isolation in the suburbs, alienating workplaces and long car commutes create a bunker mentality, the Internet does the opposite.](https://sms4smile.com/quotes/alex-steffen/if-mass-media-social-isolation-in-the-suburbs-alienating-workplaces/) [Alex Steffen](https://sms4smile.com/quotes/author/alex-steffen/) > [Rest assured that our work is not over because our work has never been only hunting Nazi war criminals. The Simon Wiesenthal Center is…](https://sms4smile.com/quotes/marvin-hier/rest-assured-that-our-work-is-not-over-because-our-work-has-never/) [Marvin Hier](https://sms4smile.com/quotes/author/marvin-hier/) > [Either a wise man will not go into bunkers, or, being in, he will endure such things as befall him with patience.](https://sms4smile.com/quotes/andrew-lang/either-a-wise-man-will-not-go-into-bunkers-or-being-in-he-will-endure/) [Andrew Lang](https://sms4smile.com/quotes/author/andrew-lang/) > [Do you realize it’s been only a century that we’ve been able to go from house to car to office to car to wherever,…](https://sms4smile.com/quotes/sheri-s-tepper/do-you-realize-it-s-been-only-a-century-that-we-ve-been-able-to-go/) [Sheri S. Tepper](https://sms4smile.com/quotes/author/sheri-s-tepper/) > [You can't hold me to the same standard as the president or a school teacher. I'm just a comedian. My job is like Archie…](https://sms4smile.com/quotes/tracy-morgan/you-can-t-hold-me-to-the-same-standard-as-the-president-or-a-school/) [Tracy Morgan](https://sms4smile.com/quotes/author/tracy-morgan/) > [We'll make a bunker hill of it.](https://sms4smile.com/quotes/george-pickett/we-ll-make-a-bunker-hill-of-it/) [George Pickett](https://sms4smile.com/quotes/author/george-pickett/) > [What am I responsible for? Who am I responsible to? Everybody? How come when Archie Bunker nailed everybody, it was funny - but when…](https://sms4smile.com/quotes/sam-kinison/what-am-i-responsible-for-who-am-i-responsible-to-everybody-how-come/) [Sam Kinison](https://sms4smile.com/quotes/author/sam-kinison/) > [I want to improve my bunker, fairway and putting status because that's been my weakness over the last three years. If I can just…](https://sms4smile.com/quotes/yani-tseng/i-want-to-improve-my-bunker-fairway-and-putting-status-because-that-s/) [Yani Tseng](https://sms4smile.com/quotes/author/yani-tseng/) > [If Israel sent the IDF three kilometers into Lebanon and started digging trenches and building bunkers it would make news all over the world.…](https://sms4smile.com/quotes/michael-totten/if-israel-sent-the-idf-three-kilometers-into-lebanon-and-started/) [Michael Totten](https://sms4smile.com/quotes/author/michael-totten/) > [When a friend of Abigail and John Adams was killed at Bunker Hill, Abigail's response was to write a letter to her husband and…](https://sms4smile.com/quotes/david-mccullough/when-a-friend-of-abigail-and-john-adams-was-killed-at-bunker-hill/) [David McCullough](https://sms4smile.com/quotes/author/david-mccullough/) > [We have certain things where we know they exist or "everybody knows they exist," but naturally nobody can photograph them, because they are so…](https://sms4smile.com/quotes/roland-emmerich/we-have-certain-things-where-we-know-they-exist-or-everybody-knows/) [Roland Emmerich](https://sms4smile.com/quotes/author/roland-emmerich/) > [When I was released by the Americans I read historian Trevor Roper's book, 'The Last Days of Hitler'. Throughout the book like a red…](https://sms4smile.com/quotes/hanna-reitsch/when-i-was-released-by-the-americans-i-read-historian-trevor-roper-s/) Hanna Reitsch > [Under the Occupation, we in Nantes were denied access to the coast of the Atlantic Ocean. It was therefore not until after the War…](https://sms4smile.com/quotes/paul-virilio/under-the-occupation-we-in-nantes-were-denied-access-to-the-coast-of/) [Paul Virilio](https://sms4smile.com/quotes/author/paul-virilio/) Browse all 72 Bunkers quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced, then duck into the bunker of bonds and cash until stocks again become cheap enough to buy.", "creator": { "@type": "Person", "name": "Benjamin Graham" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/benjamin-graham/in-an-ideal-world-the-intelligent-investor-would-hold-stocks-only/", "about": { "@type": "Thing", "name": "Bunkers" }, "@id": "https://sms4smile.com/quotes/benjamin-graham/in-an-ideal-world-the-intelligent-investor-would-hold-stocks-only/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/ac6/benjamin-graham-1531_bunkers_in-an-ideal-world-the-intelligent-invest_1807434.jpg", "contentUrl": "https://sms4smile.com/quotes/i/ac6/benjamin-graham-1531_bunkers_in-an-ideal-world-the-intelligent-invest_1807434.jpg", "url": "https://sms4smile.com/quotes/i/ac6/benjamin-graham-1531_bunkers_in-an-ideal-world-the-intelligent-invest_1807434.jpg", "width": 1080, "height": 1080, "caption": "“In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when…” — Benjamin Graham", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Benjamin Graham", "item": "https://sms4smile.com/quotes/author/benjamin-graham/" }, { "@type": "ListItem", "position": 4, "name": "In an ideal world, the intelligent...", "item": "https://sms4smile.com/quotes/benjamin-graham/in-an-ideal-world-the-intelligent-investor-would-hold-stocks-only/" } ], "@id": "https://sms4smile.com/quotes/benjamin-graham/in-an-ideal-world-the-intelligent-investor-would-hold-stocks-only/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```