Benjamin Graham Quotes

Absent a lot of surprises, stocks are relatively predictable over twenty years. As to whether they're going to be higher or lower in two to three years, you might as well flip a coin to decide.

Nothing important on Wall Street can be counted on to occur exactly in the same way as it happened before.

In Wall Street, the only thing that's hard to explain is next week.

Wall Street indexes predicted nine out of the last five recessions.

When it comes to fund managers and market strategists, this year's hero usually turns into next year's zero.

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.

There is no safe haven in today's markets.

Predicting the market is always tough.

Before prognostication, a disclaimer: I have never been able to pick a winner. Not that it has ever stopped me from trying to. Well, it has stopped me from buying stock, but let's not talk about that.

Stocks have reached what looks like a permanently high plateau.

I'm not a stock expert by any means. Stocks go up; they go down.

Wall Street, in the main, hates uncertainty, which manifests itself in depressed share prices of companies whose prospects lack 'visibility.' But where the market can err is in confusing uncertainty with risk.

If you roll dice, you know that the odds are one in six that the dice will come up on a particular side. So you can calculate the risk. But, in the stock market, such computations are bull - you don't even know how many sides the dice have!

We have long felt that the only value of stock forecasters is to make fortune-tellers look good.

While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster

We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.

Who would you trust right now? Which bank would you trust? Which investment would you trust? Do you really want to put your money; do you want to suffer more of these losses that we just had? You know, these volatility that we see is just unexplainable by any rational standards. Nobody has any clue about how to explain this, and nobody wants to experience that. So, we hold more money back, we don't necessarily want to invest in the market and by default, people are saving more.

The future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.

To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties.

I don't think Wall Street people in general are smart. I think that's one of the biggest myths in American lore. They're tough, aggressive, greedy, quick thinking but I don't think they're particularly smart at all.

I think the stock market is a very dangerous place to be at the present time. In fact, the stock market today is almost identical to where it was in October 2007 and then there was a $7 trillion crash and before that in March 2000.

I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.

Wall Street. - The abode of the Brokers and the Broke.

More money is lost anticipating the changes in the overall stock market than any other way of investing.

A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.