--- title: "Meaning & Key Takeaway of: Traditionally the investor has been the…" description: "\"Traditionally the investor has been the man with patience and the courage of his convictions who would buy when the harried or disheartened speculator ..." image: "https://sms4smile.com/quotes/i/de9/benjamin-graham-1531_conviction_traditionally-the-investor-has-been-the_239788.jpg" --- # Traditionally the investor has been the man with patience… ![“Traditionally the investor has been the man with patience and the courage of his convictions who would buy when the harried or disheartened speculator was selling.” quote by Benjamin Graham](https://sms4smile.com/quotes/i/de9/benjamin-graham-1531_conviction_traditionally-the-investor-has-been-the_239788.jpg) [Download](https://sms4smile.com/quotes/i/de9/benjamin-graham-1531_conviction_traditionally-the-investor-has-been-the_239788.jpg) [Open image](https://sms4smile.com/quotes/i/de9/benjamin-graham-1531_conviction_traditionally-the-investor-has-been-the_239788.jpg) > “Traditionally the investor has been the man with patience and the courage of his convictions who would buy when the harried or disheartened speculator was selling.” [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 be patient and confident, buying when others are fearful. **In simple terms:** Buy when others sell, with patience and conviction. Key Takeaway Maintain discipline during market panic. Themes investing patience contrarian strategy Mood cautious analytical Type investment financial When to use this quote - stock market downturns - real‑estate bubbles - personal finance decisions Key Concepts value investing behavioral finance Questions to Reflect On - How do you assess true value? - What signals indicate irrational market fear? A Different Perspective Patience alone may not offset poor analysis. ★ ★ ★ ★ ★ No ratings yet [Conviction](https://sms4smile.com/quotes/about/conviction/) [Courage](https://sms4smile.com/quotes/about/courage/) [Customer](https://sms4smile.com/quotes/about/customer/) [Disheartened](https://sms4smile.com/quotes/about/disheartened/) [Faith](https://sms4smile.com/quotes/about/faith/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investor](https://sms4smile.com/quotes/about/investor/) [Investors](https://sms4smile.com/quotes/about/investors/) [Men](https://sms4smile.com/quotes/about/men/) [Patience](https://sms4smile.com/quotes/about/patience/) [Selling](https://sms4smile.com/quotes/about/selling/) ## Related quotes > [The individual investor should act consistently as an investor and not as a speculator. 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The speculator's primary interest lies in…](https://sms4smile.com/quotes/benjamin-graham/the-most-realistic-distinction-between-the-investor-and-the/) [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/) > [Speculators often prosper through ignorance; it is a cliché that in a roaring bull market knowledge is superfluous and experience is a handicap. But…](https://sms4smile.com/quotes/benjamin-graham/speculators-often-prosper-through-ignorance-it-is-a-clich-that-in-a/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [A speculator gambles that a stock will go up in price because somebody else will pay even more for it.](https://sms4smile.com/quotes/benjamin-graham/a-speculator-gambles-that-a-stock-will-go-up-in-price-because/) [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/) > [If a man's patience is stronger than his whims and desires, then he is like an angel, but if his whims and desires are…](https://sms4smile.com/quotes/ibn-qayyim-al-jawziyya/if-a-man-s-patience-is-stronger-than-his-whims-and-desires-then-he-is/) [Ibn Qayyim Al-Jawziyya](https://sms4smile.com/quotes/author/ibn-qayyim-al-jawziyya/) > [God bestows upon one man genius without patience and upon another man patience without genius. The relative achievements of the two are often surprising.](https://sms4smile.com/quotes/walter-c-klein/god-bestows-upon-one-man-genius-without-patience-and-upon-another-man/) Walter C Klein > [Man have patience and woman have tongue.](https://sms4smile.com/quotes/tess-twist/man-have-patience-and-woman-have-tongue/) Tess Twist > [A man without patience is a lamp without oil.](https://sms4smile.com/quotes/andres-segovia/a-man-without-patience-is-a-lamp-without-oil/) [Andres Segovia](https://sms4smile.com/quotes/author/andres-segovia/) > [A woman's mood is the best challenge for a true man's patience=>](https://sms4smile.com/quotes/arvie/a-woman-s-mood-is-the-best-challenge-for-a-true-man-s-patience/) [Arvie](https://sms4smile.com/quotes/author/arvie/) > [A man's patience is a pioneering music to his gripping ears to magically engineer to open happiness frontiers and steers to clear many unreasonable…](https://sms4smile.com/quotes/anuj-somany/a-man-s-patience-is-a-pioneering-music-to-his-gripping-ears-to/) [Anuj Somany](https://sms4smile.com/quotes/author/anuj-somany/) > [“Common man's patience will bring him more happiness than common man's power.”](https://sms4smile.com/quotes/amit-kalantri/common-man-s-patience-will-bring-him-more-happiness-than-common-man-s/) [Amit Kalantri](https://sms4smile.com/quotes/author/amit-kalantri/) > [“A man without patience is already a patient. Those who wait, must do things time and situations demand. Waiting without working, is wasting.”](https://sms4smile.com/quotes/angus-anokute/a-man-without-patience-is-already-a-patient-those-who-wait-must-do/) Angus Anokute > [“He’s also an unbelievably kind man. His patience is one for the record books, too. You’d have to have infinite patience to put up…](https://sms4smile.com/quotes/lily-harper-hart/he-s-also-an-unbelievably-kind-man-his-patience-is-one-for-the-record/) [Lily Harper Hart](https://sms4smile.com/quotes/author/lily-harper-hart/) ## 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 Conviction quotes > [Democracy is based on the conviction that man has the moral and intellectual capacity, as well as the inalienable right, to govern himself with…](https://sms4smile.com/quotes/harry-s-truman/democracy-is-based-on-the-conviction-that-man-has-the-moral-and/) [Harry S. Truman](https://sms4smile.com/quotes/author/harry-s-truman/) > [Once you pull the trigger, you've got to throw balls aggressively and with conviction.](https://sms4smile.com/quotes/alex-smith/once-you-pull-the-trigger-you-ve-got-to-throw-balls-aggressively-and/) [Alex Smith](https://sms4smile.com/quotes/author/alex-smith/) > [I've been around in public life for a long time. 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For it is my deep conviction that democracy cannot live…](https://sms4smile.com/quotes/franklin-d-roosevelt/peace-on-earth-good-will-toward-men-democracy-must-cling-to-that/) [Franklin D. Roosevelt](https://sms4smile.com/quotes/author/franklin-d-roosevelt/) > [No physiologist who calmly considers the question in connection with the general truths of his science, can long resist the conviction that different parts…](https://sms4smile.com/quotes/herbert-spencer/no-physiologist-who-calmly-considers-the-question-in-connection-with/) [Herbert Spencer](https://sms4smile.com/quotes/author/herbert-spencer/) > [ Beneath everything else, North and West, there ran a profound, unvoiced, almost subconscious conviction that the \[American\] nation was going to go on growing-in… ](https://sms4smile.com/quotes/bruce-catton/beneath-everything-else-north-and-west-there-ran-a-profound-unvoiced/) [Bruce Catton](https://sms4smile.com/quotes/author/bruce-catton/) > [Nor would anybody suspect. 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Allen Lawson](https://sms4smile.com/quotes/author/t-allen-lawson/) > [We need the conviction to be able to think for ourselves and to take action outof our own sense of responsibility.](https://sms4smile.com/quotes/senora-roy/we-need-the-conviction-to-be-able-to-think-for-ourselves-and-to-take/) [Senora Roy](https://sms4smile.com/quotes/author/senora-roy/) > [The law of England has established trial by judge and jury in the conviction that it is the mode best calculated to ascertain the…](https://sms4smile.com/quotes/jeremy-bentham/the-law-of-england-has-established-trial-by-judge-and-jury-in-the/) [Jeremy Bentham](https://sms4smile.com/quotes/author/jeremy-bentham/) > [If you are going to flip something, you must have the courage of your convictions.](https://sms4smile.com/quotes/julia-child/if-you-are-going-to-flip-something-you-must-have-the-courage-of-your/) [Julia Child](https://sms4smile.com/quotes/author/julia-child/) > [We embark unhesitatingly on the path, in a direction that is absolutely right and urgent, supported by everyone, in the knowledge that this path…](https://sms4smile.com/quotes/yehudi-menuhin/we-embark-unhesitatingly-on-the-path-in-a-direction-that-is/) [Yehudi Menuhin](https://sms4smile.com/quotes/author/yehudi-menuhin/) [Browse all 2,157 Conviction quotes ](https://sms4smile.com/quotes/about/conviction/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Traditionally the investor has been the man with patience and the courage of his convictions who would buy when the harried or disheartened speculator was selling.", "creator": { "@type": "Person", "name": "Benjamin Graham" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/benjamin-graham/traditionally-the-investor-has-been-the-man-with-patience-and-the/", "about": { "@type": "Thing", "name": "Conviction" }, "@id": "https://sms4smile.com/quotes/benjamin-graham/traditionally-the-investor-has-been-the-man-with-patience-and-the/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/de9/benjamin-graham-1531_conviction_traditionally-the-investor-has-been-the_239788.jpg", "contentUrl": "https://sms4smile.com/quotes/i/de9/benjamin-graham-1531_conviction_traditionally-the-investor-has-been-the_239788.jpg", "url": "https://sms4smile.com/quotes/i/de9/benjamin-graham-1531_conviction_traditionally-the-investor-has-been-the_239788.jpg", "width": 1080, "height": 1080, "caption": "“Traditionally the investor has been the man with patience and the courage of his convictions who would buy…” — 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": "Traditionally the investor has been the...", "item": "https://sms4smile.com/quotes/benjamin-graham/traditionally-the-investor-has-been-the-man-with-patience-and-the/" } ], "@id": "https://sms4smile.com/quotes/benjamin-graham/traditionally-the-investor-has-been-the-man-with-patience-and-the/#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 } } ] } ```