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A stock is not just a ticker ...

A stock is not just a ticker symbol or an electronic blip; it is an ownership interest in an actual business, with an underlying value that does not depend on its share price.

Benjamin Graham 200 quotes

Observation over many years h...

Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of good business conditions. The purchasers view the good current earnings as equivalent to 'earning power' and assume that prosperity is equivalent to safety.

Benjamin Graham 200 quotes

While enthusiasm may be neces...

While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster

Benjamin Graham 200 quotes

A price decline is of no real...

A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than a third from cost or unless it reflects a known deterioration of consequence in the company's position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected.

Benjamin Graham 200 quotes

The underlying principles of ...

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 200 quotes

People who invest make money ...

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.

Benjamin Graham 200 quotes

Knowledge is only one ingredi...

Knowledge is only one ingredient on arriving at a stock's proper price. The other ingredient, fully as important as information, is sound judgment.

Benjamin Graham 200 quotes

Obvious prospects for physica...

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

Benjamin Graham 200 quotes

When somebody asserts that a ...

When somebody asserts that a stock has an earning power of so much, I am sure that the person who hears him doesn't know what he means, and there is a good chance that the man who uses it doesn't know what it means.

Benjamin Graham 200 quotes

We are convinced that the int...

We are convinced that the intelligent investor can derive satisfactory results from pricing of either type (market timing or fundamental analysis via price). We are equally sure that if he places his emphasis on timing, in the sense of forecasting, he will end up as a speculator and with a speculator's financial results." And "The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.

Benjamin Graham 200 quotes

In most cases the favorable p...

In most cases the favorable price performance will be accompanied by a well-defined improvement in the average earnings, in the dividend, and in the balance-sheet position. Thus in the long run the market test and the ordinary business test of a successful equity commitment tend to be largely identical.

Benjamin Graham 200 quotes

Those with the enterprise lac...

Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.

Benjamin Graham 200 quotes

Successful investment may bec...

Successful investment may become substantially a matter of techniques and criteria that are learnable, rather than the product of unique and incommunicable mental powers.

Benjamin Graham 200 quotes

The idea of storage as a solu...

The idea of storage as a solution of economic problems at least has the support of common sense.It is diametrically opposed to the topsy-turvy Alice-in-Wonderland reasoning that has marked so much of our depression thinking and policy.

Benjamin Graham 200 quotes

Real investment risk is measu...

Real investment risk is measured not by the percent that a stock may decline in price in relation to the general market in a given period, but by the danger of a loss of quality and earnings power through economic changes or deterioration in management.

Benjamin Graham 200 quotes

The volume of credit depends ...

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

Benjamin Graham 200 quotes

I am more and more impressed ...

I am more and more impressed with the possibilities of history's repeating itself on many different counts. You don't get very far in Wall Street with the simple, convenient conclusion that a given level of prices is not too high.

Benjamin Graham 200 quotes

The utility, or intrinsic val...

The utility, or intrinsic value of gold as a commodity is now considerably less than in the past; its monetary status has become extraordinarily ambiguous; and its future is highly uncertain.

Benjamin Graham 200 quotes

The ideal form of common stoc...

The ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price to determine whether or not the security is an attractive purchase.

Benjamin Graham 200 quotes

If we assume that there are n...

If we assume that there are normal or standard income results to be obtained from investing money in securities, then the role of the adviser can be more readily established. He will use his superior training and experience to protect his clients against mistakes and to make sure that they obtain the results to which their money is entitled.

Benjamin Graham 200 quotes

Добрые, щедрые, великодушные: 6 советских актеров, которые были всеобщими любимчиками

23

Советских актёров часто ставят в пример как образец духовной силы, национальной гордости и внутренней красоты. Они стали символами эпохи, носителями культуры и нравственности. Но, как известно, за кул...

Десять кинозвезд, которые отлично поют

83

Актеры — люди творческие, но кто бы мог подумать, что некоторые из них скрывают прекрасный голос. В эпоху раннего Голливуда актеров с музыкальными способностями было немало — это считалось скорее норм...

Мэрилин Монро, Ким Кардашьян и другие

115

Неузнаваемая Ким Кардашьян в объективе фотографа Маркуса Клинко, 2009 год. Памела Андерсон в самой первой съёмке для журнала «Playboy», 1990. На фото голливудская актриса Dorothy Lamour и шимпанзе Джи...

Что стало с детьми-звездами: Рэдклифф и компания спустя годы

219

Расскажем, как сложилась судьба актеров, которые начинали сниматься еще в детстве.
Остаться на вершине в Голливуде удаётся не каждому, особенно если путь начался в детстве. Одни актёры теряются из-за...

Жизнь за границей: как изменились судьбы 7 уехавших телеведущих

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Два года назад отечественное телевидение столкнулось с беспрецедентной кадровой тектоникой — целая группа ярких и узнаваемых ведущих стремительно исчезла с экранов федеральных каналов. Эти лица долгие...

Кира Найтли, Деми Мур и другие

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Кира Найтли на страницах журнала к выходу фильма «Пиджак», 2005. Следы динозавра, раскопанные в русле реки Палакси. Техас. США. 1952г. Самая большая женщина рядом с самым маленьким мужчиной, 1922 год....