"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."
— Benjamin Graham
Have The Courage Of Your Knowledge
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.
About this quote
From The Intelligent Investor (1949), Chapter 20, in Graham's discussion of the "margin of safety" principle. Graham was urging investors to trust their own rigorous analysis rather than follow crowd opinion or professional consensus. He had personally navigated the 1929 crash and its aftermath, and the lesson he drew was that independent, evidence-based judgment was the investor's most valuable asset.
Source
The Intelligent Investor, Chapter 20 (1949)
