--- title: "Meaning & Key Takeaway of: Nothing in finance is more fatuous and…" description: "\"Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions of c..." image: "https://sms4smile.com/quotes/i/520/benjamin-graham-1531_attitude_nothing-in-finance-is-more-fatuous-and-h_699002.jpg" --- # Nothing in finance is more fatuous and harmful, in our… ![“Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions of corporate management. That attitude is summed up in the phrase: "If you don't like the management, sell your stock." ... The public owners seem to…” quote by Benjamin Graham](https://sms4smile.com/quotes/i/520/benjamin-graham-1531_attitude_nothing-in-finance-is-more-fatuous-and-h_699002.jpg) [Download](https://sms4smile.com/quotes/i/520/benjamin-graham-1531_attitude_nothing-in-finance-is-more-fatuous-and-h_699002.jpg) [Open image](https://sms4smile.com/quotes/i/520/benjamin-graham-1531_attitude_nothing-in-finance-is-more-fatuous-and-h_699002.jpg) > “Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions of corporate management. That attitude is summed up in the phrase: "If you don't like the management, sell your stock." ... The public owners seem to have abdicated all claim to control over the paid superintendents of their property.” [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 who sell stocks simply because they dislike management ignore their role as owners and can harm both themselves and the company. **In simple terms:** Selling because you dislike managers is short‑sighted. Key Takeaway Consider influence, not just price. Themes ownership corporate governance investment strategy Mood cautious critical Type advisory analytical When to use this quote - activist investing - board elections - shareholder meetings - portfolio reviews Key Concepts agency theory shareholder rights short‑termism Questions to Reflect On - How can shareholders hold management accountable without selling? - What mechanisms can improve owner influence? A Different Perspective Selling may for to missing long‑term value creation. ★ ★ ★ ★ ★ No ratings yet [Attitude](https://sms4smile.com/quotes/about/attitude/) [Claims](https://sms4smile.com/quotes/about/claims/) [Common](https://sms4smile.com/quotes/about/common/) [Common Stock](https://sms4smile.com/quotes/about/common-stock-482968/) [Corporate](https://sms4smile.com/quotes/about/corporate/) [Customer](https://sms4smile.com/quotes/about/customer/) [Finance](https://sms4smile.com/quotes/about/finance/) [Ifs](https://sms4smile.com/quotes/about/ifs/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investors](https://sms4smile.com/quotes/about/investors/) [Management](https://sms4smile.com/quotes/about/management/) [Management Sell](https://sms4smile.com/quotes/about/management-sell-5538279/) [Money](https://sms4smile.com/quotes/about/money/) [Opinion](https://sms4smile.com/quotes/about/opinion/) [Owners](https://sms4smile.com/quotes/about/owners/) [Paid](https://sms4smile.com/quotes/about/paid/) [Phrases](https://sms4smile.com/quotes/about/phrases/) [Property](https://sms4smile.com/quotes/about/property/) [Seems](https://sms4smile.com/quotes/about/seems/) [Sell Stock](https://sms4smile.com/quotes/about/sell-stock-246444/) [Sells](https://sms4smile.com/quotes/about/sells/) [Stock Investors](https://sms4smile.com/quotes/about/stock-investors-2298274/) [Stock Public](https://sms4smile.com/quotes/about/stock-public-5538280/) [Superintendents](https://sms4smile.com/quotes/about/superintendents/) ## Related quotes > [Common stock investors can make money by predicting the outcomes of practice evolution. You can't derive this by fundamental analysis - you must think…](https://sms4smile.com/quotes/charlie-munger/common-stock-investors-can-make-money-by-predicting-the-outcomes-of/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [“Security analysis cannot presume to lay down general rules as to the "proper value" of any given common stock... The prices of common stocks…](https://sms4smile.com/quotes/benjamin-graham/security-analysis-cannot-presume-to-lay-down-general-rules-as-to-the/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price to determine…](https://sms4smile.com/quotes/benjamin-graham/the-ideal-form-of-common-stock-analysis-leads-to-a-valuation-of-the/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [It's a fact: stock investors sometimes lose money on their way to wealth. Get over it.](https://sms4smile.com/quotes/jane-bryant-quinn/it-s-a-fact-stock-investors-sometimes-lose-money-on-their-way-to/) [Jane Bryant Quinn](https://sms4smile.com/quotes/author/jane-bryant-quinn/) > [When it comes to valuation, there's only one thing stock investors really care about, which is earnings.](https://sms4smile.com/quotes/james-b-stewart/when-it-comes-to-valuation-there-s-only-one-thing-stock-investors/) [James B. Stewart](https://sms4smile.com/quotes/author/james-b-stewart/) > [Short sellers sell stock they have borrowed, hoping to buy it back later when its price has fallen.](https://sms4smile.com/quotes/alex-berenson/short-sellers-sell-stock-they-have-borrowed-hoping-to-buy-it-back/) [Alex Berenson](https://sms4smile.com/quotes/author/alex-berenson/) > [Most people sell stock to pay taxes, but I didn't want to sell any stock.](https://sms4smile.com/quotes/christie-hefner/most-people-sell-stock-to-pay-taxes-but-i-didn-t-want-to-sell-any/) [Christie Hefner](https://sms4smile.com/quotes/author/christie-hefner/) > [It is far more difficult... to know when to sell a stock than when to buy.](https://sms4smile.com/quotes/bernard-baruch/it-is-far-more-difficult-to-know-when-to-sell-a-stock-than-when-to-buy/) [Bernard Baruch](https://sms4smile.com/quotes/author/bernard-baruch/) > [Glamour is what I sell, it's my stock in trade.](https://sms4smile.com/quotes/marlene-dietrich/glamour-is-what-i-sell-it-s-my-stock-in-trade/) [Marlene Dietrich](https://sms4smile.com/quotes/author/marlene-dietrich/) > [When I'm bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying,…](https://sms4smile.com/quotes/jesse-lauriston-livermore/when-i-m-bearish-and-i-sell-a-stock-each-sale-must-be-at-a-lower/) [Jesse Lauriston Livermore](https://sms4smile.com/quotes/author/jesse-lauriston-livermore/) > [If you have information that a company is not as good as its stock market valuation, you don't have a way to sell that…](https://sms4smile.com/quotes/robert-f-engle/if-you-have-information-that-a-company-is-not-as-good-as-its-stock/) [Robert F. Engle](https://sms4smile.com/quotes/author/robert-f-engle/) > [If you're going to sell stock and somebody wants to buy it at a price and that price is not a price you dictate,…](https://sms4smile.com/quotes/barry-diller/if-you-re-going-to-sell-stock-and-somebody-wants-to-buy-it-at-a-price/) [Barry Diller](https://sms4smile.com/quotes/author/barry-diller/) > [Sell a stock only when you have found a new stock that is a 50% better bargain than the one that you hold.](https://sms4smile.com/quotes/john-templeton/sell-a-stock-only-when-you-have-found-a-new-stock-that-is-a-50-better/) [John Templeton](https://sms4smile.com/quotes/author/john-templeton/) > [There is always something to worry about. Avoid weekend thinking and ignoring the latest dire predictions of the newscasters. Sell a stock because the…](https://sms4smile.com/quotes/peter-lynch/there-is-always-something-to-worry-about-avoid-weekend-thinking-and/) [Peter Lynch](https://sms4smile.com/quotes/author/peter-lynch/) > [I called my business manager in California and said, 'Sell all of my stock' - what little of it I had - and it's…](https://sms4smile.com/quotes/lauren-bacall/i-called-my-business-manager-in-california-and-said-sell-all-of-my/) [Lauren Bacall](https://sms4smile.com/quotes/author/lauren-bacall/) ## 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 Attitude quotes > [“WE CAN'T ALWAYS CONTROL OUR CIRCUMSTANCES BUT WE CAN CONTROL OUR ATTITUDE. WE MUST BE MORE CONCERNED WITH WHAT WE DO WITH WHAT HAPPENS…](https://sms4smile.com/quotes/marvin-j-ashton/we-can-t-always-control-our-circumstances-but-we-can-control-our/) [MARVIN J. ASHTON](https://sms4smile.com/quotes/author/marvin-j-ashton/) > [It's not the method, it's the mindset.](https://sms4smile.com/quotes/andy-gilbert/it-s-not-the-method-it-s-the-mindset/) [Andy Gilbert](https://sms4smile.com/quotes/author/andy-gilbert/) > [The vision of the left, full of envy and resentment, takes its worst toll on those at the bottom - whether black or white…](https://sms4smile.com/quotes/thomas-sowell/the-vision-of-the-left-full-of-envy-and-resentment-takes-its-worst/) [Thomas Sowell](https://sms4smile.com/quotes/author/thomas-sowell/) > [Changes before your eyes, things you can do and things you can't. My attitude is always let it keep rolling.](https://sms4smile.com/quotes/terrence-malick/changes-before-your-eyes-things-you-can-do-and-things-you-can-t-my/) [Terrence Malick](https://sms4smile.com/quotes/author/terrence-malick/) > [Vow to be valiant. Resolve to be radiant. Determine to be dynamic. Strive to be sincere. Aspire to be attuned.](https://sms4smile.com/quotes/william-arthur-ward/vow-to-be-valiant-resolve-to-be-radiant-determine-to-be-dynamic/) [William Arthur Ward](https://sms4smile.com/quotes/author/william-arthur-ward/) > [Don't judge me because I'm stupid. Don't judge me because I'm, mean. Don't judge me because I'm weird. Don't judge me for mistakes. Because…](https://sms4smile.com/quotes/isaiah-harden-me/don-t-judge-me-because-i-m-stupid-don-t-judge-me-because-i-m-mean-don/) [Isaiah Harden (Me](https://sms4smile.com/quotes/author/isaiah-harden-me/) > [Your feelings (mood) dictate your thought, your thought determines your attitude (reactions) and your attitude describes your lifestyle, so: be careful how you feel](https://sms4smile.com/quotes/sheye-hassan/your-feelings-mood-dictate-your-thought-your-thought-determines-your/) [Sheye Hassan](https://sms4smile.com/quotes/author/sheye-hassan/) > [Success will come when the societal attitude changes and not a single woman in America asks herself the question 'What did I do?'.](https://sms4smile.com/quotes/joe-biden/success-will-come-when-the-societal-attitude-changes-and-not-a-single/) [Joe Biden](https://sms4smile.com/quotes/author/joe-biden/) > [“Good Seeds! Gratitude is the Greatest Attitude that has no Substitute.”](https://sms4smile.com/quotes/bernard-kelvin-clive/good-seeds-gratitude-is-the-greatest-attitude-that-has-no-substitute/) [Bernard Kelvin Clive](https://sms4smile.com/quotes/author/bernard-kelvin-clive/) > [Jeff Chu's pilgrimage across America to discover his own place as a gay man in the Christian church as well as attitudes about being…](https://sms4smile.com/quotes/donna-freitas/jeff-chu-s-pilgrimage-across-america-to-discover-his-own-place-as-a/) [Donna Freitas](https://sms4smile.com/quotes/author/donna-freitas/) > [One genuine reason to feel jealous of my parents:-) I will never ever have a kid as awesome as their's...](https://sms4smile.com/quotes/anonymous/one-genuine-reason-to-feel-jealous-of-my-parents-i-will-never-ever/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [I'm optimistic Hong Kong will achieve universal suffrage - no matter the attitude of Beijing.](https://sms4smile.com/quotes/joshua-wong/i-m-optimistic-hong-kong-will-achieve-universal-suffrage-no-matter/) [Joshua Wong](https://sms4smile.com/quotes/author/joshua-wong/) > [My attitude it that you don't give in.](https://sms4smile.com/quotes/phil-taylor/my-attitude-it-that-you-don-t-give-in/) [Phil Taylor](https://sms4smile.com/quotes/author/phil-taylor/) > [Transparency pertains to impartial behavior, implies openness, communication, and accountability. Inculcate transparency in attitude and experience a life free of controversy and blame](https://sms4smile.com/quotes/dr-anil-kr-sinha/transparency-pertains-to-impartial-behavior-implies-openness/) [Dr Anil Kr Sinha](https://sms4smile.com/quotes/author/dr-anil-kr-sinha/) > [And if the mind thinks with a believing attitude one can do amazing things.](https://sms4smile.com/quotes/norman-vincent-peale/and-if-the-mind-thinks-with-a-believing-attitude-one-can-do-amazing/) [Norman Vincent Peale](https://sms4smile.com/quotes/author/norman-vincent-peale/) [Browse all 9,543 Attitude quotes ](https://sms4smile.com/quotes/about/attitude/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions of corporate management. That attitude is summed up in the phrase: \"If you don't like the management, sell your stock.\" ... 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