Benjamin Graham Quotes
There is a close logical connection between the concept of a safety margin and the principle of diversification.
Citations
Graham, Benjamin. The Intelligent Investor. 4th Rev. ed., Harper & Row, 1973, p. 283.
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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.