A Quote by Benjamin Graham

The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern. — © Benjamin Graham
The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.
Regardless of what the future holds, intelligent investment in common stocks offer a solid route for a reasonable return on investment going forward.
Now I wonder what our knowledge has in common with God's knowledge according to those who treat God's knowledge... Is there anything else common to both besides the mere name? ...there is an essential distinction between His knowledge and ours, like the distinction between the substance of the heavens and that of the earth.
A story begins and it always passes from the subjunctive to the declarative. And Italians don't seem to care about making a fine distinction between that which is speculation and that which is fact.
There was something superficial in attributing anything so awful as the Great Depression to anything so insubstantial as speculation in common stocks.
All the world's a stage. P.T. Barnum: It becomes a circus. But circuses or street pageants or parades have always been useful in a society.They've always been useful as a way of critiquing power. The carnivalesque has always been useful as a way of the powerful being mocked in a public space.
Confusing speculation with investment is always a mistake.
The private and serious drama of guilt is not often a useful one for fiction today and its disappearance, following perhaps the disappearance from life, appears as a natural, almost unnoticed relief, like some of the challenging illnesses wiped out by drug and vaccines.
The conservative position that all spending is evil obliterates any distinction between investment and consumption, between the long-term and the short-term.
In the affluent society, no useful distinction can be made between luxuries and necessities.
For me the greatest source of income is still movies. Nothing - stocks, financial speculation, real estate speculation or businesses - makes more money for me than making movies.
I have never invested directly in stocks and shares. That's never been my type of speculation.
A baboon in a forest is a matter of legitimate speculation; a baboon in a zoo is an object of public curiosity; but a baboon in your wife’s bed is a cause of the gravest concern.
You shouldn't own common stocks if a 50 per cent decrease in their value in a short period of time would cause you acute distress.
This concern which interests us more than anything else: the blurring of the distinction between art and life.
Restoring nature to its natural state is a cause beyond party and beyond factions. It has become a common cause of all the people of this country. It is a cause of particular concern to young Americans, because they more than we will reap the grim consequences of our failure to act on programs which are needed now if we are to prevent disaster later.
From the dawn of exact knowledge to the present day, observation, experiment, and speculation have gone hand in hand; and, whenever science has halted or strayed from the right path, it has been, either because its votaries have been content with mere unverified or unverifiable speculation (and this is the commonest case, because observation and experiment are hard work, while speculation is amusing); or it has been, because the accumulation of details of observation has for a time excluded speculation.
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