Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.


Chapter 20, "Margin of Safety": The Central Concept, p. 280 - The Intelligent Investor (1973) (Fourth Revised Edition)

Benjamin Graham Quotes

Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of favorable...

Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of favorable...

Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of favorable...

Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of favorable...