Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

Benjamin Graham
Age: 82 †
Born: 1894
Born: May 8
Died: 1976
Died: September 21
Economist
Financier
Investor
University Teacher
Writer
London
England
First
Instance
Every
Claims
Security
Viewed
Interest
Ownership
Business
Enterprise
May
Claim
Best
Specific
Firsts
Corporate

More quotes by Benjamin Graham

Image
At heart, uncertainty and investing are synonyms.
Benjamin Graham
Image
An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd.
Benjamin Graham
Image
The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
Benjamin Graham
Image
In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility.
Benjamin Graham
Image
The only thing you should do with pro forma earnings is ignore them.
Benjamin Graham
Image
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.
Benjamin Graham
Image
Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it – even though others may hesitate or differ.
Benjamin Graham
Image
Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.
Benjamin Graham
Image
It is absurd to think that the general public can ever make money out of market forecasts.
Benjamin Graham
Image
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.
Benjamin Graham
Image
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
Image
It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits. These virtues, if channeled in the wrong directions, become indistinguishable from handicaps.
Benjamin Graham
Image
The best values today are often found in the stocks that were once hot and have since gone cold.
Benjamin Graham
Image
Never mingle your speculative and investment operations in the same account nor in any part of your thinking.
Benjamin Graham
Image
It requires strength of character in order to think and to act in opposite fashion from the crowd and also patience to wait for opportunities that may be spaced years apart.
Benjamin Graham
Image
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
Image
The chief obstacle to success lies in the stubborn fact that if the favorable prospects of a concern are clearly apparent they are almost always reflected already in the current price of the stock. Buying such an issue is like betting on a topheavy favorite in a horse race. The chances may be on your side, but the real odds are against you.
Benjamin Graham
Image
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.
Benjamin Graham
Image
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
Image
The investor's chief problem - and even his worst enemy - is likely to be himself.
Benjamin Graham