Benjamin Graham Quotes - Page 6

Quotes about:

• The determining trait of the enterprising (or active, or aggressive) investor is his willingness to devote time and care to the selection of securities that are both sound and more attractive than the average.

  Benjamin Graham

  Average, Sound, Investing

  Benjamin Graham (2009). “The Intelligent Investor, Rev. Ed”, p.6, Harper Collins

  12 Copy quote

• The only thing you should do with pro forma earnings is ignore them.

  Benjamin Graham

  Investing, Earning, Should

  Benjamin Graham (1965). “The Intelligent Investor: A Book of Practical Counsel”, p.93, Prabhat Prakashan

  7 Copy quote

• The sillier the market's behavior, the greater the opportunity for the business like investor.

  Benjamin Graham

  Opportunity, Investing, Behavior

  Benjamin Graham (2009). “The Intelligent Investor, Rev. Ed”, p.9, Harper Collins

  9 Copy quote

• We have been trying to point out that this concept of an indefinitely favorable future is dangerous, even if it is true; because even if it is true you can easily overvalue the security, since you make it worth anything you want it to be worth. Beyond this, it is particularly dangerous too, because sometimes your ideas of the future turn out to be wrong. Then you have paid an awful lot for a future that isn't there. Your position then is pretty bad.

  Benjamin Graham

  Ideas, Trying, Want

  Benjamin Graham, New York Institute of Finance (1947). “Current problems in security analysis”

  8 Copy quote

• A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than a third from cost or unless it reflects a known deterioration of consequence in the company's position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected.

  Benjamin Graham

  Real, Loss, Sound

  "The Intelligent Investor: The Classic Text on Value Investing". Book by Benjamin Graham, Chapter II, The Investor and Stock-Market Fluctuations, p. 25, 1949.

  15 Copy quote

• The world has not learned the technique of balanced expansion without the resultant commercial and financial congestion.

  Benjamin Graham

  Technique, Expansion, World

  "World Commodities and World Currencies". Book by Benjamin Graham. Chapter I, The Problem of Raw Materials, p. 5, 1944.

  12 Copy quote

• It always seemed, and still seems, ridiculously simple to say that if one can acquire a diversified group of common stocks at a price less than the applicable net current assets alone - after deducting all prior claims, and counting as zero the fixed and other assets - the results should be quite satisfactory.

  Benjamin Graham

  Zero, Simple, Groups

  22 Copy quote

• Wall Street has a few prudent principles; the trouble is that they are always forgotten when they are most needed.

  Benjamin Graham

  Wall, Principles, Investing

  Benjamin Graham (1965). “The Intelligent Investor: A Book of Practical Counsel”, p.144, Prabhat Prakashan

  10 Copy quote

• Individual security bargains may be located by the process of security analysis practically at any time. They can be bought with good overall results at all periods except when the general market itself is clearly in a selling range for investors. They show up to best advantage during the years in which the market remains in a relatively narrow and neutral area.

  Benjamin Graham

  Years, Analysis, May

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

  11 Copy quote

• Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions of corporate management. That attitude is summed up in the phrase: "If you don't like the management, sell your stock." ... The public owners seem to have abdicated all claim to control over the paid superintendents of their property.

  Benjamin Graham

  Attitude, Phrases, Opinion

  "The Intelligent Investor: The Classic Text on Value Investing". Book by Benjamin Graham, Chapter I, What the Intelligent Investor Can Accomplish, p. 18, 1949.

  9 Copy quote

• The investor has a right to expect good results to flow from a consistent and courageous application of the principle of buying after the market has declined substantially and selling after it has had a spectacular rise. But he cannot expect to reduce this principle to a simple and foolproof formula, with profits guaranteed and no anxious periods.

  Benjamin Graham

  Simple, Principles, Buying

  8 Copy quote

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

  Benjamin Graham

  Today, Hot, Gone

  12 Copy quote

• To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.

  Benjamin Graham

  People, Looks, Investing

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

  18 Copy quote

• 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

  Sound, May, Facts

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

  29 Copy quote

• The correct attitude of the security analyst toward the stock market might well be that of a man toward his wife. He shouldn't pay too much attention to what the lady says, but he can't afford to ignore it entirely. That is pretty much the position that most of us find ourselves vis-à-vis the stock market.

  Benjamin Graham

  Attitude, Men, Wife

  Benjamin Graham, New York Institute of Finance (1947). “Current problems in security analysis”

  12 Copy quote

• Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.

  Benjamin Graham

  Investing, Enterprise

  16 Copy quote

• Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.

  Benjamin Graham

  Raw Materials, Statistics, Causes

  "Storage and Stability". Book by Benjamin Graham, Part II, Chapter VI, The Question of Price Stability, p. 85, 1937.

  8 Copy quote

• Do not let anyone else run your business

  Benjamin Graham

  Running

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

  18 Copy quote

• To see how much a company is truly earning on the capital it deploys in its businesses, look beyond EPS to Return on Invested Capital (ROIC).

  Benjamin Graham

  Return, Looks, Investing

  Benjamin Graham (1965). “The Intelligent Investor: A Book of Practical Counsel”, p.137, Prabhat Prakashan

  15 Copy quote

• Both individual skill (art) and chance are important factors in determining success or failure.

  Benjamin Graham

  Art, Skills, Important

  Benjamin Graham (1962). “Security Analysis: Principles and Technique”

  16 Copy quote

• Since we have emphasized that analysis will lead to a positive conclusion only in the exceptional case, it follows that many securities must be examined before one is found that has real possibilities for the analyst. By what practical means does he proceed to make his discoveries? Mainly by hard and systematic work.

  Benjamin Graham

  Real, Mean, Discovery

  Benjamin Graham, David Le Fevre Dodd (1940). “Security Analysis: Principles and Techniques”

  13 Copy quote

• The thing that I have been emphasizing in my own work for the last few years has been the group approach. To try to buy groups of stocks that meet some simple criterion for being undervalued-regardless of the industry and with very little attention to the individual company.

  Benjamin Graham

  Simple, Years, Trying

  16 Copy quote

• 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

  Mean, Men, Use

  Benjamin Graham, New York Institute of Finance (1947). “Current problems in security analysis”

  8 Copy quote

• In most cases the favorable price performance will be accompanied by a well-defined improvement in the average earnings, in the dividend, and in the balance-sheet position. Thus in the long run the market test and the ordinary business test of a successful equity commitment tend to be largely identical.

  Benjamin Graham

  Running, Commitment, Successful

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

  13 Copy quote

• In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced, then duck into the bunker of bonds and cash until stocks again become cheap enough to buy.

  Benjamin Graham

  Intelligent, Ducks, Investing

  13 Copy quote

Page 6 of 8

First

← Prev

1

2

3

4

5

6

7

8

Next →

• facebook
• twitter
• googleplus
• email
• linkedin