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. He need pay attention to it and act upon it only to the extent that it suits his book, no more. Thus the investor who permits himself to be stampeded or undly worried by unjustified market declines in his holdings is perversely transforming his basic advantage into a basic disadvantage. That man would be better off if his stocks had no market quotation at all, for he would then be spared mental anguish cause him by other persons’ mistake of judgment.
– Benjaman Graham in The Intelligent Investor
One fairly dependable sign of the approaching end of a bull swing is the fact that new common stocks of small and nondescript companies are offered at prices somewhat higher than the current level for many medium-sized companies with a long market history.
– Benjamin Graham from The Intelligent Investor
Sucessful men, in all callings, never stop acquiring specialized knowledge related to their major purpose, business, or profession. Those who are not successful usually make the mistake of believing that the knowledge acquiring period ends when one finishes school. The truth is schooling does but little more than to put one in the way of learning how to acquire practical knowledge.
-Napoleon Hill, “Think and Grow Rich”