A Quote by Benjamin Graham
The history of the past fifty years, and longer, indicates that a diversified holding of representative common stocks will prove more profitable over a stretch of years than a bond portfolio, with one important provisio that the shares must be purchased at reasonable market levels, that is, levels that are reasonable in the light of fairly well-defined standards derived from past experience.
Related Quotes
Time is the most important factor in determining market movements and by studying past price records you will be able to prove to yourself history does repeat and by knowing the past you can tell the future. There is a definite relation between price and time. By studying time cycles and time periods you will learn why market tops and bottoms are found at certain times, and why resistance levels are so strong at certain times, and prices hold around them. The most money is made when fast moves and extreme fluctuations occur at the end of major cycles.
If you hope to have more money tomorrow than you have today, you've got to put a chunk of your assets into stocks. Sooner or later, a portfolio of stocks or stock mutual funds will turn out to be a lot more valuable than a portfolio of bonds or CDs or money-market funds.
The company must be profitable. Preferably it will have increased its earnings for the past five years and there will have been no deficits over that period.
Evolution has been the key tenet of success over the past 13 years, and we have transformed from a single subscription e-commerce image business into a company with a diversified portfolio of content offerings, servicing the needs of businesses of all types and sizes globally.
Artists are part of the information process... Visual history is important in providing a record of what is going on - levels of intention, levels of confidence, levels of aggression or control.
By some estimates, income and wealth inequality are near their highest levels in the past hundred years, much higher than the average during that time span and probably higher than for much of American history before then.
Over the long term, despite significant drops from time to time, stocks (especially an intelligently selected stock portfolio) will be one of your best investment options. The trick is to GET to the long term. Think in terms of 5 years, 10 years and longer. Do your planning and asset allocation ahead of time. Choose a portion of your assets to invest in the stock market - and stick with it! Yes, the bad times will come, but over the truly long term, the good times will win out - and I hope the lessons from 2008 will help get you there to enjoy them.
If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value.
In the long run, a portfolio of well chosen stocks and/or equity mutual funds will always outperform a portfolio of bonds or a money-market account. In the long run, a portfolio of poorly chosen stocks won't outperform the money left under the mattress.
Owning a variety of asset classes means that some part of your portfolio will be doing well when the cyclical turmoil arises. A broadly diversified portfolio includes large capitalization stocks, small cap, emerging markets, fixed income, real estate and commodities.
When you get to the fourth, fifth and sixth years of a show, it's really good to have held back, so that you have somewhere to go. That also applies to levels of violence, levels of humor, levels of production value.
In investing, you get what you don't pay for. Costs matter. So intelligent investors will use low-cost index funds to build a diversified portfolio of stocks and bonds, and they will stay the course. And they won't be foolish enough to think that they can consistently outsmart the market.
All of human history is about the going from sudden fat years to the sudden lean years. We've always had good times and bad, and we've had ways of managing the bad times. We have ways of insulating ourselves, making ourselves less sensitive for the bad times by having things like grain stores, for example. Pretty much every civilization that's lasted for any reasonable length of time has some food management principles behind it. But what's been happening over the past thirty years is it's failed - the insurance policy.
Some 3 million years ago, when the earth was a little more than 3°C warmer than preindustrial levels (about 2.2°C warmer than today), Antarctica had far less ice and sea levels were a stunning 25 meters higher than today. If we stay on our current emissions path, the planet will almost certainly be that warm by the century's end.
Our enemies must not deceive themselves-in the 2,000 years of German history known to us, our people have never been more united than today. The Lord of the Universe has treated us so well in the past years that we bow in gratitude to a providence which has allowed us to be members of such a great nation. We thank Him that we also can be entered with honor into the ever-lasting book of German history!
The history of the past, a hundred years from now, won't be the history of the past that we learned in school because much more will have been revealed, and adjectives we can't even imagine will have been brought to bear on what we did learn in school.
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