Quote
1949·New York City, New York, USA
In the short run, the market is a voting machine, but in the long run, it is a weighing machine.
You are neither right nor wrong because people agree with you.
Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same. Thus the important and difficult part of sound investment, which hinges upon the investor's own temperament and attitude, is not much affected by the passing years.
Warren Buffett·1988Our favorite holding period is forever.
Benjamin Graham·1949All the real money in investment will have to be made—as most of it has been in the past— not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements.
Benjamin Graham·1973Investment is most intelligent when it is most businesslike.
