He focused on undervalued assets with a strategy that stated: "to buy when the commodity is depressed and sell when he is on a high." Graham felt that investment should involve a certainty of the return of investment capital and a worthwhile return over the inflation rate. Investing is not gambling or speculating. However, he did not give up, but rather studied hard, stayed persistent and ultimately succeeded.Ģ. In the stock crash of 1929, Benjamin Graham discovered the hard lessons of risk when he lost most of his capital almost overnight. Learn from your mistakes and stay persistent. Purchasing an asset that will have huge demand over the long term, that you can hold, that has little impact on your lifestyle, will make for a wise investment.ĥ Lessons Learnt From The Intelligent Investorġ. Like with any investment, whether it is shares or property, we can't always pinpoint how the markets will perform over the short term, however, when purchasing an investment wisely, the market should deliver substantial value. Graham comments: “In the short term the market is a voting machine in the long term it is a weighing machine.” The book focuses on longer-term and more risk-averse approaches to investing with Graham's focus on investments, based on research rather than speculations, based on predictions. In 1949 the book ' The Intelligent Investor ' was published by Benjamin Graham, an iconic book on investment psychology and long term gratification - both key traits for astute investors.
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