posted by mark
on Mon, 05/07/2018 - 08:22
The father. of value investing, Benjamin Graham, speaks about the difference between speculators and investors in his famous book The Intelligent Investor.
"The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell."
Which are you?
