Quote

The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.

Benjamin Graham

Change background

T
T
T

Change font

TAGS & TOPICS

Benjamin Graham
Age: 82 †
Born: 1894
Born: May 8
Died: 1976
Died: September 21
Economist
Financier
Investor
University Teacher
Writer
London
England
Times
Chief
Business
Chiefs
Come
Investing
Lows
Securities
Loss
Favorable
Conditions
Purchase
Security
Losses
Quality
Investors

More quotes by Benjamin Graham

Image
Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it – even though others may hesitate or differ.
Benjamin Graham
Image
Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same. Thus the important and difficult part of sound investment, which hinges upon the investor's own temperament and attitude, is not much affected by the passing years.
Benjamin Graham
Image
Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety.
Benjamin Graham
Image
Both individual skill (art) and chance are important factors in determining success or failure.
Benjamin Graham
Image
In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility.
Benjamin Graham
Image
The correct attitude of the security analyst toward the stock market might well be that of a man toward his wife. He shouldn't pay too much attention to what the lady says, but he can't afford to ignore it entirely. That is pretty much the position that most of us find ourselves vis-à-vis the stock market.
Benjamin Graham
Image
Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.
Benjamin Graham
Image
Price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal.
Benjamin Graham
Image
The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard.
Benjamin Graham
Image
Even defensive portfolios should be changed from time to time, especially if the securities purchased have an apparently excessive advance and can be replaced by issues much more reasonable priced.
Benjamin Graham
Image
you may take it as an axiom that you cannot profit in Wall Street by continuously doing the obvious or the popular thing
Benjamin Graham
Image
The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.
Benjamin Graham
Image
It is absurd to think that the general public can ever make money out of market forecasts.
Benjamin Graham
Image
At heart, uncertainty and investing are synonyms.
Benjamin Graham
Image
The best way to measure your investing success is not by whether you're beating the market but by whether you've put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.
Benjamin Graham
Image
Never mingle your speculative and investment operations in the same account nor in any part of your thinking.
Benjamin Graham
Image
An investor calculates what a stock is worth, based on the value of its businesses.
Benjamin Graham
Image
Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.
Benjamin Graham
Image
Successful investing is about managing risk, not avoiding it.
Benjamin Graham
Image
The defensive (or passive) investor will place chief emphasis on the avoidance of serious mistakes or losses. His second aim will be freedom from effort, annoyance, and the need for making frequent decisions.
Benjamin Graham