Benjamin Graham Quotes - Page 8

Quotes about:

If General Motors is worth $60 a share to an investor it must be because the full common-stock ownership of this gigantic enterprise as a whole is worth 43 million (shares) times $60, or no less than $2,600 million.

Benjamin Graham

Common, Ownership, Share

Benjamin Graham (1959). “The Intelligent Investor: A Book of Practical Counsel”

12 Copy quote
It's nonsensical to derive a price/earnings ratio by dividing the known current price by unknown future earnings.

Benjamin Graham

Ratios, Earning, Investing

9 Copy quote
Cartels have spread and will spread as long as the world lacks an effective mechanism by which balanced expansion may be achieved without a resulting disruption of prices.

Benjamin Graham

Long, Expansion, World

"World Commodities and World Currencies". Book by Benjamin Graham. Chapter II, The Issue of Cartels, p. 21, 1944.

23 Copy quote
To establish the right price for a stock, the market must have adequate information, but it by no means follows that is the market has this information it will thereupon establish the right price.

Benjamin Graham

Mean, Adequate, Information

Benjamin Graham, Institute of Chartered Financial Analysts, Financial Analysts Research Foundation (1974). “The Renaissance of value: the proceedings of a seminar on the economy, interest rates, portfolio management, and bonds vs common stocks, September 18, 1974”

8 Copy quote
Good managements produce a good average market price, and bad managements produce bad market prices.

Benjamin Graham

Average, Good Man, Management

Benjamin Graham (1959). “The Intelligent Investor: A Book of Practical Counsel”

7 Copy quote
The investor has the benefit of the stock market's daily and changing appraisal of his holdings, 'for whatever that appraisal may be worth', and, second, that the investor is able to increase or decrease his investment at the market's daily figure - 'if he chooses'. Thus the existence of a quoted market gives the investor certain options which he does not have if his security is unquoted. But it does not impose the current quotation on an investor who prefers to take his idea of value from some other source.

Benjamin Graham

Ideas, Giving, Doe

"The Intelligent Investor: The Classic Text on Value Investing". Book by Benjamin Graham, Chapter II, The Investor and Stock-Market Fluctuations, p. 41, 1949.

8 Copy quote
The most striking thing about Graham's discussion of how to allocate your assets between stocks and bonds is that he never mentions the word "age".

Benjamin Graham

Age, Investing, Assets

Benjamin Graham (1965). “The Intelligent Investor: A Book of Practical Counsel”, p.72, Prabhat Prakashan

9 Copy quote
The qualitative factors upon which most stress is laid are the nature of the business and the character of the management. These elements are exceedingly important, but they are also exceedingly difficult to deal with intelligently.

Benjamin Graham

Stress, Character, Important

Benjamin Graham, David Le Fevre Dodd (1934). “Security Analysis: The Classic 1934 Edition”, McGraw Hill Professional

10 Copy quote
It is worth pointing out that assuredly not more than one person out of a hundred who stayed in the market after after 1925 emerged from it with a net profit and that the speculative losses taken were appalling.

Benjamin Graham

Taken, Loss, Hundred

"The Intelligent Investor: The Classic Text on Value Investing". Book by Benjamin Graham. Chapter II, The Investor and Stock-Market Fluctuations, p. 34, 1949.

10 Copy quote
there is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present financial picture.

Benjamin Graham

Wall, People, Attention

8 Copy quote
Instead of passing blithely over into that Promised Land, flowing almost literally with milk and honey, it may be our destiny to wander a full 40 years or more in the wilderness of doubt and divided sentiments.

Benjamin Graham

Destiny, Milk And Honey, Years

"Storage and Stability". Book by Benjamin Graham, Part I, Chapter I, The Changing Role of Surplus Stocks, p. 4, 1937.

11 Copy quote
Calculate a stock's price/earnings ratio yourself, using Graham's formula of current price divided by average earnings over the past three years.

Benjamin Graham

Past, Average, Years

Benjamin Graham (1965). “The Intelligent Investor: A Book of Practical Counsel”, p.120, Prabhat Prakashan

8 Copy quote
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

Conservative, Transformation, Realizing

"Storage and Stability". Book by Benjamin Graham, Part I, Chapter I, The Changing Role of Surplus Stocks, p. 17, 1937.

9 Copy quote
Whether we like it or not, government intervention in the face of surplus is here to stay.

Benjamin Graham

Government, Faces, Surplus

"Storage and Stability". Book by Benjamin Graham. Part I, Chapter II, Government and Surplus Stocks, p. 26, 1937.

8 Copy quote
There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that market.

Benjamin Graham

Facts, Paradoxical, Subjects

"Storage and Stability". Book by Benjamin Graham, Part IV, Chapter XIV, Farm Problems and Remedies, p. 172, 1937.

6 Copy quote
It is a fact worth pondering that four centuries ago the evil of "an abundance or surplus" arose from its being kept off the market, while today the evil of surplus lies in its being thrown upon the market.

Benjamin Graham

Lying, Evil, Four

"Storage and Stability". Book by Benjamin Graham. Part I, Chapter II, Government and Surplus Stocks, p. 28, 1937.

7 Copy 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

May, Firsts, Ownership

Benjamin Graham (1965). “The Intelligent Investor: A Book of Practical Counsel”, p.205, Prabhat Prakashan

8 Copy quote
... the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street.

Benjamin Graham

Wall, Loss, Years

8 Copy quote
The money cost of the reservoir plan literally fades into insignificance when it is compared with the financial burden which the great depression imposed on the nation.

Benjamin Graham

Cost, Financial, Great Depression

"Storage and Stability". Book by Benjamin Graham. Part II, Chapter IX, The Cost of the Reservoir Plan, p. 114, 1937.

7 Copy quote
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

Population, Fiber, Feds

"Storage and Stability". Book by Benjamin Graham, Part IV, Chapter XVI, Reservoir Plan Versus Crop Control, p. 195, 1937.

6 Copy quote
The Reservoir system will function not only as an equalizer of business conditions, but also as a national store to meet further emergencies, such as war and drought, and-most important of all-as the concrete means of developing a steadily higher living standard for all.

Benjamin Graham

War, Mean, Important

"Storage and Stability". Book by Benjamin Graham. Part II, Chapter IV, A Plan For Conserving Surplus, p. 50, 1937.

7 Copy quote
The Reservoir plan is an engineering mechanism applied to the field of economics, and in its essence it has nothing to do with democracy or any other political philosophy.

Benjamin Graham

Philosophy, Engineering, Essence

"Storage and Stability". Book by Benjamin Graham, Part V, Chapter XIX, The Reservoir Plan and Tradition, p. 232, 1937.

6 Copy quote

You May Also Like:

Philip Arthur Fisher

Joel Greenblatt

Benjamin Graham

Follow

Born: May 9, 1894
Died: September 21, 1976
Occupation: Investor
Cite this Page: Citation

Popular Topics