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Diversification is an established tenet of conservative investment.

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
Tenet
Diversification
Established
Investing
Investment
Conservative

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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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The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists.
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Stock speculation is largely a matter of A trying to decide what B, C and D are likely to think-with B, C and D trying to do the same.
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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.
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The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies.
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Abnormally good or abnormally bad conditions do not last forever.
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Mr. Market does not always price stocks the way an appraiser or a private buyer would value a business. Instead, when stocks are going up, he happily pays more than their objective value and, when they are going down, he is desperate to dump them for less than their true worth.
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The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.
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Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.
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Both individual skill (art) and chance are important factors in determining success or failure.
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Individuals who cannot master their emotions are ill-suited to profit from the investment process.
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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.
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The essence of investment management is the management of risks, not the management of returns.
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Mr. Market's job is to provide you with prices your job is to decide whether it is to your advantage to act on them. You no not have to trade with hime just because he constantly begs you to.
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