Great Benjamin Graham Quotes

The chief losses to investors come from the purchase of low-quality securities at times of favourable business conditions.

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.

A great company is not a great investment if you pay too much for the stock.

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.

The best values today are often found in the stocks that were once hot and have since gone cold.

Successful investing is about managing risk, not avoiding it.

By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be destroyed.

“The sillier the market’s behaviour, the greater the opportunity for the business-like investor.”

“By developing your discipline and courage, you can refuse to let other people’s mood swings govern your financial destiny. In the end, how your investments behave is much less important than how you behave.”

“In the short run the market is a voting machine, but in the long run it is a weighing machine.”

“The intelligent investor is a realist who sells to optimists and buys from pessimists.”

“To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework.”

You do not have to be smarter than the rest. You have to be more disciplined than the rest.

Successful investing is about managing risk, not avoiding it.

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.