Voices

Benjamin Graham

Author of Security Analysis and The Intelligent Investor, and the man usually called the father of value investing.

Investor · Author6 lines
The essence of investment management is the management of risks, not the management of returns.
Benjamin Graham · widely attributed
The margin of safety is always dependent on the price paid.
Benjamin Graham · The Intelligent Investor, 1949
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham · widely attributed
The intelligent investor is a realist who sells to optimists and buys from pessimists.
Benjamin Graham · The Intelligent Investor, 1949
You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right.
Benjamin Graham · The Intelligent Investor, 1949
The market is fond of making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.
Benjamin Graham · The Intelligent Investor, 1949
← All voices