- Benjamin Graham distinguishes investors into Defensive or Aggressive Investors
- If you are an active investor, look at as many things as possible
- You will find some bargains within them.
- When you find a bargain, you need to act.
- Start turning pages. Moody's 10,000 pages, twice!
- You need to find these bargains yourself.
- The world is not going to tell you about a great deal.
- This will take a bit of time.
- Those unwilling or are passive investors, should invest in index funds consistently over time.
- The worst investment in the world is cash.
- Cash is going to be worth less overtime, unlike good businesses.
- Good businesses are going to be worth more over time.
- You do not want to pay too much for them, so you must maintain some discipline on how much you pay for them.
- Find good businesses and stick with them.
- Keep enough cash to feel comfortable and to sleep well; so no one can determine your future.
- Cash is a bad investment over time.
- Financial panic is behind us. The economic pain is still with us.
- It will end and won't go on forever. It may end next month or next year.
- It won't go on forever; don't try to pick the bottom.
- The bottom hasn't come in unemployment, in business but has come in stock.
- Don't pass out on something you find attractive today because you hope to find something way more attractive tomorrow.