It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits. These virtues, if channeled in the wrong directions, become indistinguishable from handicaps.


Chapter I, What the Intelligent Investor Can Accomplish, p. 11 - The Intelligent Investor: The Classic Text on Value Investing (1949)


It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits....

It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits....

It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits....

It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits....