Benjamin Graham
Benjamin Graham (1894-1976) was a British-born American economist and investor, widely known as the father of value investing. He wrote The Intelligent Investor and Security Analysis, and taught Warren Buffett.
5 quotes in this collection. Read them below, share your favourites, or follow the related links to explore similar voices.
All quotes by Benjamin Graham
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“Stocks can be dynamite.”
Meaning: Graham used this blunt warning in The Intelligent Investor to remind readers that equities can build wealth or destroy it fast, depending on how carefully they are handled. Respect the risk: only invest money you will not need soon, diversify, and never borrow to buy shares. -
“Investment is most intelligent when it is most businesslike.”
Meaning: Graham argued in the 1973 edition of The Intelligent Investor that buying a share should be treated like buying part of a business: study what it earns, owes and is worth. Apply it by reading a company's basic financials and judging the price before buying, instead of following tips. -
“Wall Street has a few prudent principles; the trouble is that they are always forgotten when they are most needed.”
Meaning: Graham wrote this in the 1973 revised edition of The Intelligent Investor, after decades watching booms and crashes repeat. Sound rules are simple but hard to follow when everyone is euphoric or afraid. Write your own investing rules down now, while calm, and reread them before acting in a panic. -
“The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.”
Meaning: Graham defined the investor's job in The Intelligent Investor as buying sound holdings at sensible prices and keeping them, not chasing excitement. Price matters as much as quality. Before buying a stock or fund, ask what you are paying relative to what you receive, and avoid trading simply because markets are busy. -
“Intelligent investment is more a matter of mental approach than it is of technique.”
Meaning: From The Intelligent Investor, Graham's point is that temperament matters more than clever formulas. Investors fail less from lack of knowledge than from panic and greed. Before buying anything, write down why you own it and what would make you sell, so emotion has less room to steer.