2000: Precisely because the old-time investor did not concentrate on future capital appreciation he was virtually guaranteeing to himself that he would have it….conversely, today's investor is so concerned with anticipating the future that he is already paying handsomely for it in advance. Thus what he has projected with so much study and care may actually happen and still not bring him any profit.
–Benjamin Graham, The Intelligent Investor (New York: HarperBusiness, 2003), p. 572.
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Some Summer Reading
2026: People are always asking me what I’m reading. Because I think and talk and read about investing all day long, I typically don’t read financial…
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Summon Your Courage and Buy Stocks
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Thought of the Day
Money in Art, Money in Culture
Books
Jason is the author of “Your Money and Your Brain,” on the neuroscience of investing, and the editor of the revised edition of Benjamin Graham’s “The Intelligent Investor,” the classic text that Warren Buffett has described as “by far the best book about investing ever written.”
