Quotes

Quotes by Benjamin Graham

(10)
(11) "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."
1949
(17) "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."
1976
(86) "The investor's chief problem, and even his worst enemy, is likely to be himself."
1949
- The Intelligent Investor; A Book of Practical Counsel
(367) "I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities. This was a rewarding activity, say, 40 years ago, when our textbook "Graham and Dodd" was first published; but the situation has changed a great deal since then. In the old days any well-trained security analyst could do a good professional job of selecting undervalued issues through detailed studies; but in the light of the enormous amount of research now being carried on, I doubt whether in most cases such extensive efforts will generate sufficiently superior selections to justify their cost... I'm on the side of the "efficient market" school of thought now generally accepted by the professors."
1976
- Financial Analysts Journal, 1976
(1) "If I have noticed anything over these 60 years on Wall Street, it is that people do not succeed in forecasting what's going to happen to the stock market."
March 1976
(15) "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."
1949
(18) "It is absurd to think that the general public can ever make money out of market forecasts."
1949
- The Intelligent Investor
(12) "In the short run the stock market is a voting machine... (but) in the long run it is a weighing machine."
2007
- The Little Book of Common Sense Investing by John C. Bogle
(13) "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."
2007
(16) "The investor who permits himself to be stampeded or unduly worried by unjustified market declines in his holdings is perversely transforming his basic advantage into a basic disadvantage."
- The Intelligent Investor