Benjamin Graham Quotes


It is our argument that a sufficiently low price can turn a security of mediocre quality into a sound investment opportunity - provided that the buyer is informed and experienced and he practices adequate diversification. For, if the price is low enough to create a substantial margin of safety, the security thereby meets our criterion of investment.


Citations

Graham, Benjamin. The Intelligent Investor. 4th Rev. ed., Harper & Row, 1973, p. 281.

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Benjamin Graham
Benjamin Graham
  • Born: May 9, 1894
  • Died: September 21, 1976
  • Nationality: American
  • Profession: Economist

Benjamin Graham was a British-born American economist, professor and investor. He is widely known as the "father of value investing", and wrote two of the founding texts in neoclassical investing: Security Analysis (1934) with David Dodd, and The Intelligent Investor (1949). His investment philosophy stressed investor psychology, minimal debt, buy-and-hold investing, fundamental analysis, concentrated diversification, buying within the margin of safety, activist investing, and contrarian mindsets.