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.
Source: The Intelligent Investor (1949)
About the author
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.
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