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 GrahamHave the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it โ even though others may hesitate or differ.
Benjamin GrahamA speculator gambles that a stock will go up in price because somebody else will pay even more for it.
Benjamin Graham