Individuals who cannot master their emotions are ill-suited to profit from the investment process.
Benjamin GrahamRead
A great company is not a great investment if you pay too much for the stock.
Interpretation
What this quote means
Paying too much for a stock can make even the best company a bad investment.
This quote by Benjamin Graham emphasizes the importance of valuation in investing. It suggests that regardless of a company's greatness, if an investor overpays for its stock, the investment may not yield good returns, highlighting the critical relationship between price and value in investment decision-making.
Themes
InvestmentValueStockCompanyFinance
In practice
Example use cases
This quote is perfect for discussions on investment strategies at a finance seminar.
More from Benjamin Graham
All quotes βIt is absurd to think that the general public can ever make money out of market forecasts.
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Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it β even though others may hesitate or differ.
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Obvious prospects for physical growth in a business do not translate into obvious profits for investors.
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When somebody asserts that a stock has an earning power of so much, I am sure that the person who hears him doesn't know what he means, and there is a good chance that the man who uses it doesn't know what it means.
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To be an investor you must be a believer in a better tomorrow.
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