In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced, then duck into the bunker of bonds and cash until stocks again become cheap enough to buy.
Benjamin GrahamIn the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility.
Benjamin GrahamThe essence of investment management is the management of risks, not the management of returns.
Benjamin GrahamI am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities.
Benjamin GrahamThe intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies.
Benjamin GrahamEvidently stockholders have forgotten more than to look at balance sheets. They have forgotten also that they are owners of a business and not merely owners of a quotation on the stock ticker. It is time, and high time, that the millions of American shareholders turned their eyes from the daily market reports long enough to give some attention to the enterprises themselves of which they are the proprietors, and which exist for their benefit and at their pleasure.
Benjamin Graham