--- title: "Meaning & Key Takeaway of: The investor has a right to expect good…" description: "\"The investor has a right to expect good results to flow from a consistent and courageous application of the principle of buying after the market has de..." image: "https://sms4smile.com/quotes/i/a06/benjamin-graham-1531_anxious_the-investor-has-a-right-to-expect-good_2204043.jpg" --- # The investor has a right to expect good results to flow… ![“The investor has a right to expect good results to flow from a consistent and courageous application of the principle of buying after the market has declined substantially and selling after it has had a spectacular rise. But he cannot expect to reduce this principle to a simple and foolproof…” quote by Benjamin Graham](https://sms4smile.com/quotes/i/a06/benjamin-graham-1531_anxious_the-investor-has-a-right-to-expect-good_2204043.jpg) [Download](https://sms4smile.com/quotes/i/a06/benjamin-graham-1531_anxious_the-investor-has-a-right-to-expect-good_2204043.jpg) [Open image](https://sms4smile.com/quotes/i/a06/benjamin-graham-1531_anxious_the-investor-has-a-right-to-expect-good_2204043.jpg) > “The investor has a right to expect good results to flow from a consistent and courageous application of the principle of buying after the market has declined substantially and selling after it has had a spectacular rise. But he cannot expect to reduce this principle to a simple and foolproof formula, with profits guaranteed and no anxious periods.” [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 after market drops and sell after peaks, but must accept volatility and that no foolproof formula guarantees profit. **In simple terms:** Buy low, sell high, but expect ups and downs. Key Takeaway Embrace disciplined buying and selling while managing risk. Themes investment risk management market cycles discipline Mood cautious thoughtful Type practical strategic When to use this quote - portfolio construction - retirement planning - stock analysis Key Concepts value investing behavioral finance market timing Questions to Reflect On - Can you stay disciplined during market swings? - What safeguards help you avoid overconfidence? A Different Perspective Market timing is unpredictable; emotions can undermine strategy. ★ ★ ★ ★ ★ No ratings yet [Anxious](https://sms4smile.com/quotes/about/anxious/) [Application](https://sms4smile.com/quotes/about/application/) [Buying](https://sms4smile.com/quotes/about/buying/) [Consistent](https://sms4smile.com/quotes/about/consistent/) [Courageous](https://sms4smile.com/quotes/about/courageous/) [Customer](https://sms4smile.com/quotes/about/customer/) [Flow](https://sms4smile.com/quotes/about/flow/) [Foolproof](https://sms4smile.com/quotes/about/foolproof/) [Formulas](https://sms4smile.com/quotes/about/formulas/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investor](https://sms4smile.com/quotes/about/investor/) [Investor Right](https://sms4smile.com/quotes/about/investor-right-4135507/) [Investors](https://sms4smile.com/quotes/about/investors/) [Periods](https://sms4smile.com/quotes/about/periods/) [Principle Buying](https://sms4smile.com/quotes/about/principle-buying-4853378/) [Principles](https://sms4smile.com/quotes/about/principles/) [Profit](https://sms4smile.com/quotes/about/profit/) [Profits Guaranteed](https://sms4smile.com/quotes/about/profits-guaranteed-4853379/) [Results](https://sms4smile.com/quotes/about/results/) [Selling](https://sms4smile.com/quotes/about/selling/) [Simple](https://sms4smile.com/quotes/about/simple/) [Spectacular](https://sms4smile.com/quotes/about/spectacular/) [Substantially Selling](https://sms4smile.com/quotes/about/substantially-selling-4853381/) ## Related quotes > [“The stock investor is neither right or wrong because others agreed or disagreed with him; he is right because his facts and analysis are…](https://sms4smile.com/quotes/benjamin-graham/the-stock-investor-is-neither-right-or-wrong-because-others-agreed-or/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Traditionally the investor has been the man with patience and the courage of his convictions who would buy when the harried or disheartened speculator…](https://sms4smile.com/quotes/benjamin-graham/traditionally-the-investor-has-been-the-man-with-patience-and-the/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The investor's chief problem - and even his worst enemy - is likely to be himself.](https://sms4smile.com/quotes/benjamin-graham/the-investor-s-chief-problem-and-even-his-worst-enemy-is-likely-to-be/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The sillier the market's behavior, the greater the opportunity for the business like investor.](https://sms4smile.com/quotes/benjamin-graham/the-sillier-the-market-s-behavior-the-greater-the-opportunity-for-the-2/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Most businesses change in character and quality over the years, sometimes for the better, perhaps more often for the worse. 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His second aim will be freedom from…](https://sms4smile.com/quotes/benjamin-graham/the-defensive-or-passive-investor-will-place-chief-emphasis-on-the/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.](https://sms4smile.com/quotes/benjamin-graham/a-defensive-investor-can-always-prosper-by-looking-patiently-and/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [The determining trait of the enterprising (or active, or aggressive) investor is his willingness to devote time and care to the selection of securities…](https://sms4smile.com/quotes/benjamin-graham/the-determining-trait-of-the-enterprising-or-active-or-aggressive/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [An investor calculates what a stock is worth, based on the value of its businesses.](https://sms4smile.com/quotes/benjamin-graham/an-investor-calculates-what-a-stock-is-worth-based-on-the-value-of/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [To enjoy a reasonable chance for continued better than average results, the investor must follow policies which are (1) inherently sound and promising, and…](https://sms4smile.com/quotes/benjamin-graham/to-enjoy-a-reasonable-chance-for-continued-better-than-average/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) ## 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 Anxious quotes > [Most people do surprisingly poorly when dealing with a relative who is hurting, depressed, or anxious - we get defensive and try to solve…](https://sms4smile.com/quotes/david-d-burns/most-people-do-surprisingly-poorly-when-dealing-with-a-relative-who/) [David D. Burns](https://sms4smile.com/quotes/author/david-d-burns/) > [“Do Not Be Anxious 25 e “Therefore I tell you,  f do not be anxious about your life, what you will eat or what you will drink,…](https://sms4smile.com/quotes/anonymous/do-not-be-anxious-25-e-therefore-i-tell-you-f-do-not-be-anxious-about/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [According to Shakyamuni Buddha, it's normal for human beings to be anxious, because it's normal for human beings not to understand themselves. When you…](https://sms4smile.com/quotes/reb-anderson/according-to-shakyamuni-buddha-it-s-normal-for-human-beings-to-be/) [Reb Anderson](https://sms4smile.com/quotes/author/reb-anderson/) > [Be lamps unto yourselves. Be refuges unto yourselves. Take yourself no external refuge. Hold fast to the truth as a lamp. Hold fast to…](https://sms4smile.com/quotes/gautama-buddha/be-lamps-unto-yourselves-be-refuges-unto-yourselves-take-yourself-no/) [Gautama Buddha](https://sms4smile.com/quotes/author/gautama-buddha/) > [Even speed, when we are anxious, seems like delay.](https://sms4smile.com/quotes/publilius-syrus/even-speed-when-we-are-anxious-seems-like-delay/) [Publilius Syrus](https://sms4smile.com/quotes/author/publilius-syrus/) > [I'd like to be able to do complex math in my head. Any kind of adversity and I become very anxious, but if you're…](https://sms4smile.com/quotes/zach-woods/i-d-like-to-be-able-to-do-complex-math-in-my-head-any-kind-of/) [Zach Woods](https://sms4smile.com/quotes/author/zach-woods/) > [There were times when depression, anxiety, whatever, would keep me from writing. 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