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Timeless Wisdom: Notable Quotes by Benjamin Graham on Investing and Financial Success

“ In the short run, the market is a voting machine but in the long run, it is a weighing machine ” 

– Benjamin Graham

“ Those who do not remember the past are condemned to repeat it ”

– Benjamin Graham

“ But investing isn’t about beating others at their game. It’s about controlling yourself at your own game ” 

– Benjamin Graham

“ The stock investor is neither right nor wrong because others agreed or disagreed with him; he is right because his facts and analysis are right ”

– Benjamin Graham

“ People who invest make money for themselves; people who speculate make money for their brokers ” 

– Benjamin Graham

“ As the Danish philosopher Søren Kierkegaard noted, life can only be understood backwards—but it must be lived forwards ” 

– Benjamin Graham

“ You will be much more in control, if you realize how much you are not in control ” 

– Benjamin Graham

“ Obvious prospects for physical growth in a business do not translate into obvious profits for investors ” 

– Benjamin Graham

“ All things excellent are as difficult as they are rare ” 

– Benjamin Graham

“ Abnormally good or abnormally bad conditions do not last forever ”

– Benjamin Graham

“ While a trend shown in the past is a fact, a “future trend” is only an assumption ” 

– Benjamin Graham

“ We must recognize, however, that intrinsic value is an elusive concept ” 

– Benjamin Graham

“ The value of the pledged property is vitally dependent on the earning power of the enterprise ” 

– Benjamin Graham

“ The speculative public is incorrigible. In financial terms it cannot count beyond 3 ” 

– Benjamin Graham

“ The trend is, in fact, a statement of future prospects in the form of an exact prediction ” 

– Benjamin Graham

“ You u are neither right nor wrong because people agree with you ” 

– Benjamin Graham

“ The investor’s chief problem – and even his worst enemy – is likely to be himself ” 

– Benjamin Graham

“ Rising prices allow Uncle Sam to pay off his debts with dollars that have been cheapened by inflation ”

– Benjamin Graham

“ It is absurd to think that the general public can ever make money out of market forecasts ”

– Benjamin Graham

“ Individuals who cannot master their emotions are ill-suited to profit from the investment process ”

– Benjamin Graham

“ A great company is not a great investment if you pay too much for the stock ”

– Benjamin Graham

“ Even the intelligent investor is likely to need considerable will power to keep from following the crowd ”

– Benjamin Graham

“ Do not take yearly results too seriously. Instead, focus on four or five-year averages ”

– Benjamin Graham

“The intelligent investor is a realist who sells to optimists and buys from pessimists.”

– Benjamin Graham

“An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return.”

– Benjamin Graham

“The investor’s chief problem—and even his worst enemy—is likely to be himself.”

– Benjamin Graham

“Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.”

– Benjamin Graham

“The true investor welcomes volatility.”

– Benjamin Graham

“The individual investor should act consistently as an investor and not as a speculator.”

– Benjamin Graham

“The investor’s worst enemy is not the stock market, but himself.”

– Benjamin Graham

“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.”

– Benjamin Graham

“Most of the time, common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble.”

– Benjamin Graham

“The stock market is a device for transferring money from the impatient to the patient.”

– Benjamin Graham

“The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices.”

– Benjamin Graham

“The function of the margin of safety is, in essence, that of rendering unnecessary an accurate estimate of the future.”

– Benjamin Graham

“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

“The intelligent investor should recognize that market panics can create great buying opportunities for the steady, long-term investor.”

– Benjamin Graham

“Investing is most intelligent when it is most businesslike.”

– Benjamin Graham

“The stock market is not a casino; it is a mechanism for transferring wealth from the impatient to the patient.”

– Benjamin Graham

“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.”

– Benjamin Graham

“The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must be adapted to significant changes in the financial mechanisms and climate.”

– Benjamin Graham

“Buy companies with strong histories of profitability and with a dominant business franchise.”

– Benjamin Graham

“It is absurd to think that the general public can ever make money out of market forecasts.”

– Benjamin Graham

“The stock investor is neither right nor wrong because others agreed or disagreed with him; he is right because his facts and analysis are right.”

– Benjamin Graham

“In the world of securities, courage becomes the supreme virtue after adequate knowledge and a tested judgment are at hand.”

– Benjamin Graham

“Successful investing is about managing risk, not avoiding it.”

– Benjamin Graham

“The investor’s goal should be to be fearful when others are greedy and greedy when others are fearful.”

– Benjamin Graham

“The intelligent investor should focus on the quality of the business behind the stock.”

– Benjamin Graham

“Investing is not a game where the guy with the 160 IQ beats the guy with the 130 IQ.”

– Benjamin Graham

“The stock market is filled with individuals who know the price of everything but the value of nothing.”

– Benjamin Graham

“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.”

– Benjamin Graham

“The investor’s chief problem—and even his worst enemy—is likely to be himself.”

– Benjamin Graham

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

– Benjamin Graham

“In the end, how your investments behave is much less important than how you behave.”

– Benjamin Graham

“The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.”

– Benjamin Graham

“Buy companies with strong balance sheets, high profit margins, and a history of stable earnings growth.”

– Benjamin Graham

“Successful investing is not about making predictions; it’s about managing risks.”

– Benjamin Graham

“The stock market is a giant distraction to the business of investing.”

– Benjamin Graham

“The market is there to serve you, not to guide you.”

– Benjamin Graham

“To make money in stocks, you must have the vision to see them, the courage to buy them, and the patience to hold them.”

– Benjamin Graham

“The investor’s focus should be on the long-term prospects of the business, not short-term market fluctuations.”

– Benjamin Graham

“In investing, it is better to be approximately right than precisely wrong.”

– Benjamin Graham

“Investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”

– Benjamin Graham

“The true investor aims primarily at long-range results and pays little or no attention to what may happen in the market in the near future.”

– Benjamin Graham

“Do not let emotions or market sentiment dictate your investment decisions.”

– Benjamin Graham

“The key to successful investing is to buy assets when they are undervalued and sell when they are overvalued.”

– Benjamin Graham

“Investing is not a get-rich-quick scheme; it’s a long-term wealth-building strategy.”

– Benjamin Graham

“The investor’s focus should be on the underlying value of the business, not the stock price.”

– Benjamin Graham
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