Benjamin Graham Quotes


In security analysis the prime stress is laid upon protection against untoward events. We obtain this protection by insisting upon margins of safety, or values well in excess of the price paid.


Citations

Graham, Benjamin, and David L. Dodd. Security Analysis. 2nd ed., McGraw-Hill, 1940, p. 301.

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Benjamin Graham
Benjamin Graham
  • Born: May 9, 1894
  • Died: September 21, 1976
  • Nationality: American
  • Profession: Economist

Benjamin Graham was a British-born American economist, professor and investor. He is widely known as the "father of value investing", and wrote two of the founding texts in neoclassical investing: Security Analysis (1934) with David Dodd, and The Intelligent Investor (1949). His investment philosophy stressed investor psychology, minimal debt, buy-and-hold investing, fundamental analysis, concentrated diversification, buying within the margin of safety, activist investing, and contrarian mindsets.