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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.

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
Successful
Great
Think
Professionals
Thinking
Disciplined
Consistent
Investing
Deal
Deals

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Stocks can be dynamite.
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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.
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The sillier the market's behavior, the greater the opportunity for the business like investor.
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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.
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It is absurd to think that the general public can ever make money out of market forecasts.
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Unusually rapid growth cannot keep up forever when a company has already registered a brilliant expansion, its very increase in size makes a repetition of its achievement more difficult.
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A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.
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Knowledge is only one ingredient on arriving at a stock's proper price. The other ingredient, fully as important as information, is sound judgment.
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Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.
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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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It always seemed, and still seems, ridiculously simple to say that if one can acquire a diversified group of common stocks at a price less than the applicable net current assets alone - after deducting all prior claims, and counting as zero the fixed and other assets - the results should be quite satisfactory.
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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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The essence of investment management is the management of risks, not the management of returns.
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The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.
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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 business conditions. The purchasers view the good current earnings as equivalent to 'earning power' and assume that prosperity is equivalent to safety.
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An investor calculates what a stock is worth, based on the value of its businesses.
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Always buy your straw hats in the Winter
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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 stock market resembles a huge laundry in which institutions take in large blocks of each others washing ... without rhyme or reason.
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An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd.
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