Frases de Benjamin Graham

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Benjamin Graham

Data de nascimento: 8. Maio 1894
Data de falecimento: 21. Setembro 1976

Benjamin Graham foi um influente economista americano.

Graham é considerado o precursor da estratégia buy and hold de investimentos em ações, adotada por seu seguidor bilionário Warren Buffett. O foco desta estratégia é comprar ações de empresas sólidas e com ótimas perspectivas de geração de caixa e mantê-las no portfólio de investimentos por um longo período, objetivando, desta forma, a maximização dos lucros, eliminando custos excessivos de transações e imposto de renda. Por isso o nome buy and hold, ou seja, "compre e segure" .

Os discípulos conhecidos de Graham incluem Jean-Marie Eveillard, Warren Buffett, William J. Ruane, Irving Kahn, Walter J. Schloss, entre outros.

Citações Benjamin Graham

„Você pode se dar mais mal com uma boa ideia do que com uma má ideia, porque você se esquece de que as boas idéias tem limites.“

„O preço é o que você paga. Valor é o que você leva.“

„An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.“ The Intelligent Investor

„In the short run, the market is a voting machine but in the long run, it is a weighing machine.“

„The intelligent investor is a realist who sells to optimists and buys from pessimists.“ The Intelligent Investor

„Those who do not remember the past are condemned to repeat it.“ The Intelligent Investor

„The stock investor is neither right or wrong because others agreed or disagreed with him; he is right because his facts and analysis are right.“ The Intelligent Investor

„But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.“ The Intelligent Investor

„People who invest make money for themselves; people who speculate make money for their brokers.“ The Intelligent Investor

„As the Danish philosopher Søren Kierkegaard noted, life can only be understood backwards—but it must be lived forwards.“ The Intelligent Investor

„And back in the spring of 1720, Sir Isaac Newton owned shares in the South Sea Company, the hottest stock in England. Sensing that the market was getting out of hand, the great physicist muttered that he “could calculate the motions of the heavenly bodies, but not the madness of the people.” Newton dumped his South Sea shares, pocketing a 100% profit totaling £7,000. But just months later, swept up in the wild enthusiasm of the market, Newton jumped back in at a much higher price—and lost £20,000 (or more than $3 million in today’s money). For the rest of his life, he forbade anyone to speak the words “South Sea” in his presence. 4“ The Intelligent Investor

„A cynic once told G. K. Chesterton, the British novelist and essayist, “Blessed is he who expecteth nothing, for he shall not be disappointed.” Chesterton’s rejoinder? “Blessed is he who expecteth nothing, for he shall enjoy everything.“ The Intelligent Investor

„Americans are getting stronger. Twenty years ago, it took two people to carry ten dollars’ worth of groceries. Today, a five-year-old can do it. —Henny Youngman“ The Intelligent Investor

„The punches you miss are the ones that wear you out. —Boxing trainer Angelo Dundee“ The Intelligent Investor

„On the other hand, investing is a unique kind of casino—one where you cannot lose in the end, so long as you play only by the rules that put the odds squarely in your favor.“ The Intelligent Investor

„Buy cheap and sell dear.“ The Intelligent Investor

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