The Intelligent Investor, Rev. Ed (Collins Business Essentials)
An elementary requirement for the intelligent investor is an ability to resist the blandishments of salesmen offering new common-stock issues during bull markets.
Benjamin Graham • The Intelligent Investor, Rev. Ed (Collins Business Essentials)
See whether cash from operations has grown steadily throughout the past 10 years.
Benjamin Graham • The Intelligent Investor, Rev. Ed (Collins Business Essentials)
A growth stock may be defined as one that has done this in the past and is expected to do so in the future.2
Benjamin Graham • The Intelligent Investor, Rev. Ed (Collins Business Essentials)
income after taxes he would maintain this buying power intact, even against a 3% annual inflation.
Benjamin Graham • The Intelligent Investor, Rev. Ed (Collins Business Essentials)
economies of scale, or the ability to supply huge amounts of goods or services cheaply
Benjamin Graham • The Intelligent Investor, Rev. Ed (Collins Business Essentials)
The true investor scarcely ever is forced to sell his shares, and at all other times he is free to disregard the current price quotation.
Benjamin Graham • The Intelligent Investor, Rev. Ed (Collins Business Essentials)
The third is the device of “dollar-cost averaging,” which means simply that the practitioner invests in common stocks the same number of dollars each month or each quarter.
Benjamin Graham • The Intelligent Investor, Rev. Ed (Collins Business Essentials)
But you can control: your brokerage costs, by trading rarely, patiently, and cheaply your ownership costs, by refusing to buy mutual funds with excessive annual expenses your expectations, by using realism, not fantasy, to forecast