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May 22, 2019

investment versus speculation benjamin graham

Investment vs Speculation

“An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.” – Benjamin Graham (The Intelligent Investor) Giving his thoughts on Investment versus Speculation in his opening chapter in The Intelligent Investor, Benjamin Graham, the father of value investing, said: “Outright speculation

Investment versus Speculation

“An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.” – Benjamin Graham, “The Intelligent Investor” Benjamin Graham, widely known as the  father of value investing, said that “outright speculation  is neither illegal, immoral, nor (for most people) fattening to the pocketbook”.