Quote

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.

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
Third
Clothed
Thirds
Fiber
Population
Fundamentally
Food
Feds
Wrong
Reduce
Stills
Ill
Still
Production
Must
Productions

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Good managements produce a good average market price, and bad managements produce bad market prices.
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The value of the security analyst to the investor depends largely on the investor's own attitude. If the investor asks the analyst the right questions, he is likely to get the right or at least valuable answers.
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The best values today are often found in the stocks that were once hot and have since gone cold.
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Even the most conservative must realize that the recent transformation of surplus from an individual to a national disaster implies a scathing indictment of our capitalist system as it has now developed.
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... the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street.
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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 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.
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Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.
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In the short run, the market is a voting machine, but in the long run it is a weighing machine.
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I am more and more impressed with the possibilities of history's repeating itself on many different counts. You don't get very far in Wall Street with the simple, convenient conclusion that a given level of prices is not too high.
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Wall Street has a few prudent principles the trouble is that they are always forgotten when they are most needed.
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Never mingle your speculative and investment operations in the same account nor in any part of your thinking.
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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.
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