A Quote by Benjamin Graham

All the real money in investment will have to be made as most of it has been in the past not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements.

Benjamin Graham

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Assuring Been Best Buying Buying And Selling Competent Corporations Directed Dividends Energies Fully Hence Holding Honest In The Past Increases Interests Investment Investors Long Long-Term Made Major Means Money Most Operating Out Owning Past Real Receiving Results Securities Selling Should Term Themselves Toward Turn Turn Me Value Will Wisdom

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Benjamin Graham
American - Economist
May 8, 1894 - September 21, 1976

As I have mentioned before, we cannot make the same sort of money out of permanent ownership of controlled businesses that can be made from buying and reselling such businesses, or from skilled investment in marketable securities. Nevertheless, they offer a pleasant long term form of activity (when conducted in conjunction with high grade, able people) at satisfactory rates of return.

Warren Buffett

Scientists themselves readily admit that they do not fully understand the consequences of our many-faceted assault upon the interwoven fabric of atmosphere, water, land and life in all its biological diversity. But things could also turn out to be worse than the current scientific best guess. In military affairs, policy has long been based on the dictum that we should be prepared for the worst case. Why should it be so different when the security is that of the planet and our long-term future?

Prince Charles

To this day I am indulgent toward orchestras that are trying to lift themselves in the world, while critics are busy assuring them that they are not the Vienna Philharmonic and never will be.

Robertson Davies

Value investors should completely exit a security by the time it reaches full value; owning overvalued securities is the realm of speculators.

Seth Klarman

Investors should pay attention not only to whether but also to why current holdings are undervalued. It is critical to know why you have made an investment and to sell when the reason for owning it no longer applies. Look for investments with catalysts that may assist directly in the realization of underlying value. Give reference to companies having good managements with a personal financial stake in the business. Finally, diversify your holdings and hedge when it is financially attractive to do so.

Seth Klarman

One day we will have more inflation, and our bonds will bleed like a pig. The only reason for buying long bonds is short-term or as a desperate haven for terrorized investors. But the potential to make longer-term real money is naught.

Jeremy Grantham

One of the reasons we are profitable is the changes that we've made and the long-term relationships we've built with major corporations. We have gotten out there and put our nose to the grindstone and simply been competitive.

David Steward

You can look at founding father Alexander Hamilton nevertheless assuring - assuring - the countrymen in Federalist 78 that the role of the federal courts under the proposed Constitution would be limited.

Sam Brownback

I don't like stock buybacks. I think if a company has the money to buy their stock back, then they should take that and increase the dividends. Send it back to the stockholder. Let them invest their money again from the dividends.

T. Boone Pickens

The basic concept of value to a private owner and being motivated when you're buying and selling securities by reference to intrinsic value instead of price momentum - I don't think that will ever be outdated.

Charlie Munger

Workers must root out the idea that by keeping the results of their labors to themselves a fortune will be assured to them. Patent fees are so much wasted money. The flying machine of the future will not be born fully fledged and capable of a flight for 1,000 miles or so. Like everything else it must be evolved gradually. The first difficulty is to get a thing that will fly at all. When this is made, a full description should be published as an aid to others. Excellence of design and workmanship will always defy competition.

Lawrence Hargrave

Property is my major investment. My accountant has put money into various long-term savings arrangements. To be honest, I am a bit vague about all that stuff.

Anne Robinson

We make too much out of past performance, and it's very misleading to investors. It causes them to move money around. They buy a fund that's hot and then it turns cold as all hot funds eventually do. And then they get out. Well, buying at the high and selling at the low isn't going to leave you a satisfied shareholder, right?

John C. Bogle

He who has faith has... an inward reservoir of courage, hope, confidence, calmness, and assuring trust that all will come out well - even though to the world it may appear to come out most badly.

B. C. Forbes

Our goal is not to produce immediate results. We've been tasked with producing long-term results. That means that there's more risk in any individual thing we take on. But we still aspire to a strong return on investment.

Astro Teller

People don't understand what term "selling out" means. To me selling out means if I were to stop doing this and go work for McDonald's then I would sell out.

Roger Miret

A Quote by Benjamin Graham

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