255 Quotes by Benjamin Graham

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

The Reservoir plan is an engineering mechanism applied to the field of economics, and in its essence it has nothing to do with democracy or any other political philosophy.

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.

Why should the cotton growers suffer if there is shortage of wheat?

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

The volume of credit depends upon three factors: the desire to borrow, the ability to lend and the desire to lend.

It requires strength of character in order to think and to act in opposite fashion from the crowd and also patience to wait for opportunities that may be spaced years apart.

There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that market.

It is a misfortune of the times that all of us must needs be amateur economists-including, and perhaps especially, the professionals.