A Conversation With Benjamin Graham

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Shortly before Benjamin Graham died, he gave an interview reflecting on all he had learned during his 60+ year career. The interview – titled A Conversation with Benjamin Graham – was conducted by the Financial Analyst JournalGraham’s profound answers offer exceptionally powerful lessons for investors still to this day.
During the course of Benjamin Graham’s unparalleled career, he published a vast number of articles, speeches, and reports which documented his investment principles. By far, the most referenced of these publications are two time-tested books, Security Analysis and The Intelligent Investor.
None are more relevant to individual investors than his last interview.


Enjoy your reading.

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
I rather like this example of Ben Graham's thinking ( stock market resembles a huge laundry ) copied below :

Question: What is your view of Wall Street as a financial institution?

Ben Graham: A highly unfavorable–even a cynical–one. The Stock Exchanges appear to me chiefly as a John Bunyan type of Vanity Fair, or a Falstaffian joke, that frequently degenerates into a madhouse–“a tale full of sound and fury, signifying nothing.” The stock market resembles a huge laundry in which institutions take in large blocks of each other’s washing–nowadays to the tune of 30 million shares a day–without true rhyme or reason. But technologically it is remarkably well-organized.

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