Ben Graham Quotes on Business Principles

By
David
– July 1, 2011Posted in: Business, Capital Gain, Paper Assets, Strategies, Value Investing

The first and most obvious of these principles is: Know what you are doing—know your business.

A second business principle: Do not let anyone else run your business, unless (1) you can supervise his performance with adequate care and comprehension or (2) you have unusually strong reasons for placing implicit confidence in his integrity and ability.

A third business principle: Do not enter upon an operation—that is, manufacturing or trading in an item—unless a reliable calculation shows that it has a fair chance to yield a reasonable profit. In particular, keep away from ventures in which you have little to gain and much to lose.

A fourth business rule is more positive: Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it—even though others may hesitate or differ.

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