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At heart, uncertainty and investing are synonyms.

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
Synonym
Uncertainty
Investing
Heart
Synonyms

More quotes by Benjamin Graham

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No matter how careful you are, the one risk no investor can ever eliminate is the risk of being wrong. Only by insisting on what Graham called the margin of safety - never overpaying, no matter how exciting an investment seems to be - can you minimize your odds of error.
Benjamin Graham
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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.
Benjamin Graham
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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 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.
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Always buy your straw hats in the Winter
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The best values today are often found in the stocks that were once hot and have since gone cold.
Benjamin Graham
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Never mingle your speculative and investment operations in the same account nor in any part of your thinking.
Benjamin Graham
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Abnormally good or abnormally bad conditions do not last forever.
Benjamin Graham
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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.
Benjamin Graham
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The purchase of a bargain issue presupposes that the market's current appraisal is wrong, or at least that the buyer's idea of value is more likely to be right than the market's. In this process the investor sets his judgement against that of the market. To some this may seem arrogant or foolhardy.
Benjamin Graham
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The ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price to determine whether or not the security is an attractive purchase.
Benjamin Graham
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It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.
Benjamin Graham
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Before you invest, you must ensure that you have realistically assessed your probability of being right and how you will react to the consequences of being wrong.
Benjamin Graham
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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
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The essence of investment management is the management of risks, not the management of returns.
Benjamin Graham
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It is absurd to think that the general public can ever make money out of market forecasts.
Benjamin Graham
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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.
Benjamin Graham
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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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Successful investment may become substantially a matter of techniques and criteria that are learnable, rather than the product of unique and incommunicable mental powers.
Benjamin Graham
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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.
Benjamin Graham