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Speculators often prosper through ignorance it is a cliché that in a roaring bull market knowledge is superfluous and experience is a handicap. But the typical experience of the speculator is one of temporary profit and ultimate loss
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
Profit
Roaring
Market
Bull
Ultimate
Clich
Ignorance
Superfluous
Speculator
Loss
Bulls
Speculators
Knowledge
Typical
Handicap
Often
Temporary
Handicaps
Experience
Investing
Prosper
More quotes by Benjamin Graham
Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
Benjamin Graham
Stocks can be dynamite.
Benjamin Graham
An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return.
Benjamin Graham
It requires strength of character in order to think and to act in opposite fashion from the crowd and also patience to wait for opportunities that may be spaced years apart.
Benjamin Graham
The individual investor should act consistently as an investor and not as a speculator. This means ... that he should be able to justify every purchase he makes and each price he pays by impersonal, objective reasoning that satisfies him that he is getting more than his money's worth for his purchase.
Benjamin Graham
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.
Benjamin Graham
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
Every corporate security may be best viewed, in the first instance, as an ownership interest in, or a claim against, a specific business enterprise.
Benjamin Graham
We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more that it is selling for.
Benjamin Graham
High valuations entail high risks.
Benjamin Graham
People who invest make money for themselves people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.
Benjamin Graham
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.
Benjamin Graham
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
We urge the beginner in security buying not to waste his efforts and his money in trying to beat the market. Let him study security values and initially test out his judgment on price versus value with the smallest possible sums.
Benjamin Graham
It is a fact worth pondering that four centuries ago the evil of an abundance or surplus arose from its being kept off the market, while today the evil of surplus lies in its being thrown upon the market.
Benjamin Graham
Abnormally good or abnormally bad conditions do not last forever.
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.
Benjamin Graham
The thing that I have been emphasizing in my own work for the last few years has been the group approach. To try to buy groups of stocks that meet some simple criterion for being undervalued-regardless of the industry and with very little attention to the individual company.
Benjamin Graham
It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.
Benjamin Graham
When somebody asserts that a stock has an earning power of so much, I am sure that the person who hears him doesn't know what he means, and there is a good chance that the man who uses it doesn't know what it means.
Benjamin Graham