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The sillier the market's behavior, the greater the opportunity for the business like investor.
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
Investing
Market
Behavior
Greater
Opportunity
Business
Sillier
Like
Investor
Investors
More quotes by Benjamin Graham
The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
Benjamin Graham
The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored.
Benjamin Graham
Abnormally good or abnormally bad conditions do not last forever.
Benjamin Graham
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
The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.
Benjamin Graham
Nothing important on Wall Street can be counted on to occur exactly in the same way as it happened before.
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
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
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
Many progressive economists insist that gold is now in essentially the same position as silver and that the arguments the simon-pure gold advocates use against the white metal can be directed with equal effect against their own fetish.
Benjamin Graham
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.
Benjamin Graham
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
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
Wall Street has a few prudent principles the trouble is that they are always forgotten when they are most needed.
Benjamin Graham
The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.
Benjamin Graham
Good managements produce a good average market price, and bad managements produce bad market prices.
Benjamin Graham
Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety.
Benjamin Graham
An investor calculates what a stock is worth, based on the value of its businesses.
Benjamin Graham
Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
Benjamin Graham