Benjamin Graham
QUOTES FROM Benjamin Graham
Wall Street learns nothing and forgets everything
The combination of precise formulas with highly imprecise assumptions can be used to establish, or rather to justify, practically any value one wishes
Calculus . . . [gives] speculation the deceptive guise of investment.
An investment operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return. Operations not meeting these requirements are speculative
Benjamin Graham
