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Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.

Benjamin Graham

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Benjamin Graham
Age: 82 †
Born: 1894
Born: May 8
Died: 1976
Died: September 21
Economist
Financier
Investor
University Teacher
Writer
London
England
Sells
Rise
Never
Substantial
Stock
Drop
Immediately
Sell

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The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.
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Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it.
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Before you place your financial future in the hands of an adviser, it's imperative that you find someone who not only makes you comfortable but whose honesty is beyond reproach.
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Good managements produce a good average market price, and bad managements produce bad market prices.
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The investor's chief problem - and even his worst enemy - is likely to be himself.
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In nine companies out of ten the factor of fluctuation has been a more dominant and important consideration in the matter of investment than has the factor of long-term growth or decline
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The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.
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The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists.
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The investor should be aware that even though safety of its principal and interest may be unquestioned, a long term bond could vary widely in market price in response to changes in interest rates.
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It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits. These virtues, if channeled in the wrong directions, become indistinguishable from handicaps.
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No matter how careful you are, the one risk no investor can ever eliminate is the risk of being wrong. Only by insisting on what Graham called the margin of safety - never overpaying, no matter how exciting an investment seems to be - can you minimize your odds of error.
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Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.
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Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.
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The sillier the market's behavior, the greater the opportunity for the business like investor.
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