It is absurd to think that the general public can ever make money out of market forecasts.
Benjamin GrahamThe ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price to determine whether or not the security is an attractive purchase.
Benjamin GrahamObservation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of good business conditions. The purchasers view the good current earnings as equivalent to 'earning power' and assume that prosperity is equivalent to safety.
Benjamin GrahamThe distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.
Benjamin Graham