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Benjamin Graham Quotes

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Benjamin Graham, born on May 9, 1894, in London, England, was a renowned investor and securities analyst. He had a profound impact on the investment field and was hailed as the 'Father of Modern Investing'. Graham's investment philosophy emphasizes value investing, advocating for investors to focus on the fundamental aspects of companies rather than market sentiment. His book, 'The Intelligent Investor', has had a significant influence on generations of investors.

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Famous Benjamin Graham Quotes

“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.”

Source: The Intelligent Investor: A Book of Practical Counsel

“Intelligent investment is more a matter of mental approach than it is of technique. A sound mental approach toward stock fluctuations is the touchstone of all successful investment under present-day conditions.”

Matter Sound Successful Conditions Approach Intelligent Investment Technique Present Day Touchstones Fluctuation

Author:Benjamin Graham

“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.”

“we have complaints that institutional dominance of the stock market has put 'the small investor at a disadvantage because he can't compete with the trust companies' huge resources, etc. The facts are quite the opposite. It may be that the institutions are better equipped than the individual to speculate in the market.But I am convinced that an individual investor with sound principles, and soundly advised, can do distinctly better over the long pull than large institutions.”

May Long Facts Individual Sound Can Do Company Principles Huge Resources Opposites Institutions Convinced Etc Investors Complaints Disadvantages Dominance

Author:Benjamin Graham

“Knowledge is only one ingredient on arriving at a stock's proper price. The other ingredient, fully as important as information, is sound judgment.”

Important Sound Information Judgment Ingredients Arriving Sound Judgment

Book:The Renaissance of value: the proceedings of a seminar on the economy, interest rates, portfolio management, and bonds vs common stocks, September 18, 1974

Source: The Renaissance of value: the proceedings of a seminar on the economy, interest rates, portfolio management, and bonds vs common stocks, September 18, 1974

“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.”

Care Sound Security Investing Average Active Attractive Willingness Aggressive Investors Traits Selection Enterprising

Book:The Intelligent Investor, Rev. Ed

Source: The Intelligent Investor, Rev. Ed

“To enjoy a reasonable chance for continued better than average results, the investor must follow policies which are (1) inherently sound and promising, and (2) not popular on Wall Street.”

Enjoy Sound Chance Results Streets Policy Wall Investing Average Reasonable Investors

Book:The Intelligent Investor, Rev. Ed

Source: The Intelligent Investor, Rev. Ed

“It is our argument that a sufficiently low price can turn a security of mediocre quality into a sound investment opportunity - provided that the buyer is informed and experienced and he practices adequate diversification. For, if the price is low enough to create a substantial margin of safety, the security thereby meets our criterion of investment.”