Ben Graham: Low Quality, Favorable Business Conditions

"The risk of paying too high a price for good-quality stocks - while a real one - is not the chief hazard confronting the average buyer of securities. 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. The purchasers view the current good earnings as equivalent to 'earning power' and assume that prosperity is synonymous with safety." - Benjamin Graham

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Ben Graham: Low Quality, Favorable Business Conditions

Reviewed by Pisstol Aer
Published : 2010-12-14T07:49:00-08:00
Rating : 4.5