--- title: "Meaning & Key Takeaway of: It has long been the prevalent view that…" description: "\"“It has long been the prevalent view that the art of successful investment lies first in the choice of those industries that are most likely to grow in..." image: "https://sms4smile.com/quotes/i/dea/benjamin-graham-1531_art_it-has-long-been-the-prevalent-view-that_1675557.jpg" --- # It has long been the prevalent view that the art of… ![“It has long been the prevalent view that the art of successful investment lies first in the choice of those industries that are most likely to grow in the future and then in identifying the most promising companies in these industries.” quote by Benjamin Graham](https://sms4smile.com/quotes/i/dea/benjamin-graham-1531_art_it-has-long-been-the-prevalent-view-that_1675557.jpg) [Download](https://sms4smile.com/quotes/i/dea/benjamin-graham-1531_art_it-has-long-been-the-prevalent-view-that_1675557.jpg) [Open image](https://sms4smile.com/quotes/i/dea/benjamin-graham-1531_art_it-has-long-been-the-prevalent-view-that_1675557.jpg) > ““It has long been the prevalent view that the art of successful investment lies first in the choice of those industries that are most likely to grow in the future and then in identifying the most promising companies in these industries.”” [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. Successful investing requires first spotting growth sectors, then picking the best companies within them. **In simple terms:** Invest by first finding growing industries, then top firms. Key Takeaway Focus on sector trends before individual stocks. Themes investment analysis growth selection Mood analytical pragmatic Type financial educational When to use this quote - stock picking - portfolio building - industry research - financial planning Key Concepts value investing market cycles risk assessment Questions to Reflect On - How do you identify emerging growth sectors? - What criteria define a “most promising” company? A Different Perspective Sector predictions can be wrong, affecting all picks. ★ ★ ★ ★ ★ No ratings yet [Art](https://sms4smile.com/quotes/about/art/) [Business](https://sms4smile.com/quotes/about/business/) [Customer](https://sms4smile.com/quotes/about/customer/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investment](https://sms4smile.com/quotes/about/investment/) [Success](https://sms4smile.com/quotes/about/success/) ## Related quotes > [Successful investment may become substantially a matter of techniques and criteria that are learnable, rather than the product of unique and incommunicable mental powers.](https://sms4smile.com/quotes/benjamin-graham/successful-investment-may-become-substantially-a-matter-of-techniques/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [“From these two broad examples we draw two morals for our readers: Obvious prospects for physical growth in a business do not translate into…](https://sms4smile.com/quotes/benjamin-graham/from-these-two-broad-examples-we-draw-two-morals-for-our-readers/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Successful investment is a battle for financial survival.](https://sms4smile.com/quotes/gerald-m-loeb/successful-investment-is-a-battle-for-financial-survival/) [Gerald M. Loeb](https://sms4smile.com/quotes/author/gerald-m-loeb/) > [Techstars has done a great job accelerating and providing venture capital to the most promising companies to make the biggest long-term economic impact.](https://sms4smile.com/quotes/david-cohen/techstars-has-done-a-great-job-accelerating-and-providing-venture/) [David Cohen](https://sms4smile.com/quotes/author/david-cohen/) > [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/) > [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/) > [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/) > [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/) > [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/) > [The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.](https://sms4smile.com/quotes/benjamin-graham/the-distinction-between-investment-and-speculation-in-common-stocks/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Never mingle your speculative and investment operations in the same account nor in any part of your thinking.](https://sms4smile.com/quotes/benjamin-graham/never-mingle-your-speculative-and-investment-operations-in-the-same/) [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/) > [Surely I'm not the only person to ask the obvious question: How different, really, is Mr. Madoff's tale from the story of the investment…](https://sms4smile.com/quotes/paul-krugman/surely-i-m-not-the-only-person-to-ask-the-obvious-question-how/) [Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/) > [When you consider the sheer magnitude of investable equities to choose from in the world's emerging markets, you realize that finding one that looks…](https://sms4smile.com/quotes/mark-mobius/when-you-consider-the-sheer-magnitude-of-investable-equities-to/) [Mark Mobius](https://sms4smile.com/quotes/author/mark-mobius/) > [Unlike return, however, risk is no more quantifiable at the end of an investment that it was at its beginning. Risk simply cannot be…](https://sms4smile.com/quotes/seth-klarman/unlike-return-however-risk-is-no-more-quantifiable-at-the-end-of-an/) [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 Art quotes > [True works of art contain their own theory and give us the measurement according to which we should judge them.](https://sms4smile.com/quotes/johann-wolfgang-von-goethe/true-works-of-art-contain-their-own-theory-and-give-us-the/) [Johann Wolfgang von Goethe](https://sms4smile.com/quotes/author/johann-wolfgang-von-goethe/) > [Before Noah, men having only water to drink, could not find the truth. Accordingly...they became abominably wicked, and they were justly exterminated by the…](https://sms4smile.com/quotes/benjamin-franklin/before-noah-men-having-only-water-to-drink-could-not-find-the-truth/) [Benjamin Franklin](https://sms4smile.com/quotes/author/benjamin-franklin/) > [“Hear the sum of the whole matter in the compass of one brief word — every art possessed by man comes from Prometheus.”](https://sms4smile.com/quotes/aeschylus/hear-the-sum-of-the-whole-matter-in-the-compass-of-one-brief-word/) [Aeschylus](https://sms4smile.com/quotes/author/aeschylus/) > [I think most artists feel like they're outside society - no matter how many accolades they receive, or how much money is in your…](https://sms4smile.com/quotes/aaron-rose/i-think-most-artists-feel-like-they-re-outside-society-no-matter-how/) [Aaron Rose](https://sms4smile.com/quotes/author/aaron-rose/) > [The capacity to be puzzled is the premise of all creation, be it in art or in science.](https://sms4smile.com/quotes/erich-fromm/the-capacity-to-be-puzzled-is-the-premise-of-all-creation-be-it-in/) [Erich Fromm](https://sms4smile.com/quotes/author/erich-fromm/) > [That's the great secret of creativity. You treat ideas like cats: you make them follow you.](https://sms4smile.com/quotes/ray-bradbury/that-s-the-great-secret-of-creativity-you-treat-ideas-like-cats-you/) [Ray Bradbury](https://sms4smile.com/quotes/author/ray-bradbury/) > [“So, really," continued Jacob as if this were perfectly normal to expound on art in these circumstances, "when you think about it, the artists…](https://sms4smile.com/quotes/justina-chen-headley/so-really-continued-jacob-as-if-this-were-perfectly-normal-to-expound/) [Justina Chen Headley](https://sms4smile.com/quotes/author/justina-chen-headley/) > [“There are two options in art; either to adopt philosophical life by dissecting art, or to write your own philosophical life and claim it…](https://sms4smile.com/quotes/taf-teh/there-are-two-options-in-art-either-to-adopt-philosophical-life-by/) Taf Teh > [The house has to serve comfort. The work of art is revolutionary; the house is conservative.](https://sms4smile.com/quotes/adolf-loos/the-house-has-to-serve-comfort-the-work-of-art-is-revolutionary-the/) [Adolf Loos](https://sms4smile.com/quotes/author/adolf-loos/) > [During human progress, every science is evolved out of its corresponding art.](https://sms4smile.com/quotes/herbert-spencer/during-human-progress-every-science-is-evolved-out-of-its/) [Herbert Spencer](https://sms4smile.com/quotes/author/herbert-spencer/) > [In literature and art memory is a synonym for invention. It is the life-blood of imagination, which faints and dies when the veins are…](https://sms4smile.com/quotes/robert-aris-willmott/in-literature-and-art-memory-is-a-synonym-for-invention-it-is-the/) [Robert Aris Willmott](https://sms4smile.com/quotes/author/robert-aris-willmott/) > [I think a business guy is different from an artist. They walk different paths. Artists create the best outputs when they're having fun. And…](https://sms4smile.com/quotes/g-dragon/i-think-a-business-guy-is-different-from-an-artist-they-walk/) [G-Dragon](https://sms4smile.com/quotes/author/g-dragon/) > [“The only thing--I tell you this straight from the heart--that disgusts me in Salzburg is that one can't have any proper social intercourse with…](https://sms4smile.com/quotes/wolfgang-amadeus-mozart/the-only-thing-i-tell-you-this-straight-from-the-heart-that-disgusts/) [Wolfgang Amadeus Mozart](https://sms4smile.com/quotes/author/wolfgang-amadeus-mozart/) > [The sublime in art is the attempt to express the infinite without finding in the realm of phenomena any object which proves itself fitting…](https://sms4smile.com/quotes/georg-wilhelm-friedrich-hegel/the-sublime-in-art-is-the-attempt-to-express-the-infinite-without/) [Georg Wilhelm Friedrich Hegel](https://sms4smile.com/quotes/author/georg-wilhelm-friedrich-hegel/) > [Art isn't done to decorate apartments, but to wage war against the enemy.](https://sms4smile.com/quotes/pablo-picasso/art-isn-t-done-to-decorate-apartments-but-to-wage-war-against-the/) [Pablo Picasso](https://sms4smile.com/quotes/author/pablo-picasso/) [Browse all 48,643 Art quotes ](https://sms4smile.com/quotes/about/art/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“It has long been the prevalent view that the art of successful investment lies first in the choice of those industries that are most likely to grow in the future and then in identifying the most promising companies in these industries.”", "creator": { "@type": "Person", "name": "Benjamin Graham" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/benjamin-graham/it-has-long-been-the-prevalent-view-that-the-art-of-successful/", "about": { "@type": "Thing", "name": "Art" }, "@id": "https://sms4smile.com/quotes/benjamin-graham/it-has-long-been-the-prevalent-view-that-the-art-of-successful/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/dea/benjamin-graham-1531_art_it-has-long-been-the-prevalent-view-that_1675557.jpg", "contentUrl": "https://sms4smile.com/quotes/i/dea/benjamin-graham-1531_art_it-has-long-been-the-prevalent-view-that_1675557.jpg", "url": "https://sms4smile.com/quotes/i/dea/benjamin-graham-1531_art_it-has-long-been-the-prevalent-view-that_1675557.jpg", "width": 1080, "height": 1080, "caption": "“It has long been the prevalent view that the art of successful investment lies first in the choice of those…” — 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": "“It has long been the prevalent...", "item": "https://sms4smile.com/quotes/benjamin-graham/it-has-long-been-the-prevalent-view-that-the-art-of-successful/" } ], "@id": "https://sms4smile.com/quotes/benjamin-graham/it-has-long-been-the-prevalent-view-that-the-art-of-successful/#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 } } ] } ```