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Quote by Benjamin Graham

“Mathematics is ordinarily considered as producing precise and dependable results; but in the stock market the more elaborate and abstruse the mathematics the more uncertain and speculative are the conclusions we draw there from. Whenever calculus is brought in, or higher algebra, you could take it as a warning that the operator was trying to substitute theory for experience, and usually also to give to speculation the deceptive guise of investment.”

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 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.”

Forever Optimism Intelligent Sells Expensive Pessimism Investors Swings Optimist Pessimist Realist Pendulums Unjustified

Book:The Intelligent Investor, Rev. Ed

Source: The Intelligent Investor, Rev. Ed

“The memory of the financial community is proverbially and distressingly short.”

Community Memories Investing Financial

Book:Security Analysis: The Classic 1934 Edition

Source: Security Analysis: The Classic 1934 Edition

“I'm the type of person who, if somebody offers me a free meal, I get excited because you never know where your next free meal is going to come from.”

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“The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored.”

Should Remember Sound Taken Advantage Concerned Investing Excited Investors Decline Quotations Ignored Convenience Portfolios Taken Advantage

Book:The Intelligent Investor: A Book of Practical Counsel

Source: The Intelligent Investor: A Book of Practical Counsel

“Most businesses change in character and quality over the years, sometimes for the better, perhaps more often for the worse. The investor need not watch his companies' performance like a hawk; but he should give it a good, hard look from time to time.”

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Author:Benjamin Graham

“I quickly convinced myself that the true key to material happiness lay in a modest standard of living which could be achieved with little difficulty under almost all economic conditions.”

Littles Economic Conditions Materials Keys Standards Difficulty Lays Convinced Modest Standards Of Living

Book:Benjamin Graham, the Memoirs of the Dean of Wall Street

Source: Benjamin Graham, the Memoirs of the Dean of Wall Street

“Mankind invented a system to cope with the fact that we are so intrinsically lousy at manipulating numbers. It's called the graph.”

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“Over many decades, our usual practice is that if something we like goes down, we buy more and more. Sometimes something happens, you realize you’re wrong, and you get out. But if you develop correct confidence in your judgment, buy more and take advantage of stock prices.”

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“I'm not entitled to have an opinion unless I can state the arguments against my position better than the people who are in opposition. I think that I am qualified to speak only when I've reached that state.”

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“There must be some wisdom in the folk saying: Its the strong swimmers who drown.”

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