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Quote by Benjamin Graham

“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.”

Quote by Benjamin Graham

Author

Benjamin Graham

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. more

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“The modern world is not geared properly to the storage of goods.”

World Modern Goods Modern World Storage

Author:Benjamin Graham

“The story of Joseph in Egypt and of the seven fat and the seven lean years has passed into the homely wisdom of the ages; but our economic thinking seems to have lost contact with so simple and basic approach to prudent management of a nations welfare.”

Thinking Years Stories Seems Age Lost Nations Simple Economic Approach Management Seven Fats Contact Welfare Egypt Prudent Homely

Author:Benjamin Graham

“Many progressive economists insist that gold is now in essentially the same position as silver and that the arguments the simon-pure gold advocates use against the white metal can be directed with equal effect against their own fetish.”

Use White Effects Position Pure Equal Argument Gold Silver Progressive Metals Economist Fetish

Author:Benjamin Graham

“The genuine investor in common stocks does not need a great equipment of brain and knowledge, but he does need some unusual qualities of character”

Needs Doe Character Common Brain Quality Genuine Unusual Investors Equipment

Book:The Intelligent Investor: A Book of Practical Counsel

Source: The Intelligent Investor: A Book of Practical Counsel

“The chief obstacle to success lies in the stubborn fact that if the favorable prospects of a concern are clearly apparent they are almost always reflected already in the current price of the stock. Buying such an issue is like betting on a topheavy favorite in a horse race. The chances may be on your side, but the real odds are against you.”

Ifs May Real Facts Lying Sides Chance Race Issues Concern Horse Currents Obstacles Chiefs Buying Odds Stubborn Your Side Prospects Betting

Author:Benjamin Graham

“you may take it as an axiom that you cannot profit in Wall Street by continuously doing the obvious or the popular thing”

May Streets Wall Profit Obvious Axioms

Book:The Intelligent Investor: A Book of Practical Counsel

Source: The Intelligent Investor: A Book of Practical Counsel

“All the real money in investment will have to be made as most of it has been in the past not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements.”

“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.”

Simple Results Principles Periods Flow Profit Selling Buying Consistent Courageous Formulas Application Investors Anxious Spectacular Foolproof

Author:Benjamin Graham

“The reader can test his own psychology by asking himself whether he would consider, in retrospect, the selling at 156 in 1925 and buying back at 109 in 1931 was a satisfactory operation. Some may think that an intelligent investor should have been able to sell out much closer to the high of 381 and to buy back nearer the low of 41. If that is your own view you are probably a speculator at heart and will have trouble keeping to true investment precepts while the market rushes up and down.”

“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.”

Persons Loss Taken Hundred Profit Pointing

Author:Benjamin Graham