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Nothing important on Wall Street can be counted on to occur exactly in the same way as it happened before.

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
Way
Investing
Street
Exactly
Streets
Wall
Happened
Nothing
Counted
Important
Occur

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Only in the exceptional case, where the integrity and competence of the advisers have been thoroughly demonstrated, should the investor act upon the advice of others without understanding and approving the decision made.
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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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Real investment risk is measured not by the percent that a stock may decline in price in relation to the general market in a given period, but by the danger of a loss of quality and earnings power through economic changes or deterioration in management.
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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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An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd.
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Every corporate security may be best viewed, in the first instance, as an ownership interest in, or a claim against, a specific business enterprise.
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you may take it as an axiom that you cannot profit in Wall Street by continuously doing the obvious or the popular thing
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In the world of securities, courage becomes the supreme virtue after adequate knowledge and a tested judgment are at hand.
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