Benjamin Graham
Benjamin Graham
Benjamin Grahamwas a British-born American economist and professional investor. Graham is considered the father of value investing, an investment approach he began teaching at Columbia Business School in 1928 and subsequently refined with David Dodd through various editions of their famous book Security Analysis. Graham had many disciples in his lifetime, a number of whom went on to become successful investors themselves. Graham's most well-known disciples include Warren Buffett, William J. Ruane, Irving Kahn and Walter J. Schloss, among others...
NationalityAmerican
ProfessionEntrepreneur
Date of Birth8 May 1894
CountryUnited States of America
Benjamin Graham quotes about
Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety.
I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities.
The intelligent investor is a realist who sells to optimists and buys from pessimists.
you may take it as an axiom that you cannot profit in Wall Street by continuously doing the obvious or the popular thing
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.
Always buy your straw hats in the Winter
A great company is not a great investment if you pay too much for the stock.
To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.
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.
The intelligent investor shouldn't ignore Mr. Market entirely. Instead, you should do business with him- but only to the extent that it serves your interests.
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.
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.
As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily against him.
It is absurd to think that the general public can ever make money out of market forecasts.