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Benjamin Graham

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To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.
--
Chapter 20, "Margin of Safety": The Central Concept, p. 287

 
Benjamin Graham

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We must set the end in view as the goal; and then, instead of making a fetish of some particular kind of means, we should adopt whatever honorable means will best accomplish the end. In so far as unrestricted individual liberty brings the best results, we should encourage it. But when a point is reached where this complete lack of restriction on individual liberty fails to achieve the best results, then, on behalf of the whole people, we should exercise the collective power of the people, through the State Legislatures in matters of purely local concern, and through the National Legislature when the purpose is so big that only National action can achieve it.

 
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Research! Research! A mere excuse for idleness; it has never achieved, and will never achieve any results of the slightest value.

 
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