People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.


The Intelligent Investor: A Book of Practical Counsel (ed. Prabhat Prakashan, 1972)

Benjamin Graham Quotes

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially...

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially...

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially...

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially...