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.
About this quote
- Attributed to
- Benjamin Graham
- Source
- The Intelligent Investor (1973) (Fourth Revised Edition), Chapter 20, "Margin of Safety": The Central Concept, p. 280
- Attribution status
- ✓ Verified source
- Verification
- Primary reference
Photo: David Illif with image-alignment and Photoshoping by User:Colin and Kim Hansen · CC BY-SA 4.0 · source · Portrait: Anonymous Unknown author (Public domain)
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