"The investor's chief problem - and even his worst enemy - is likely to be himself."
— Benjamin Graham
The Investors Chief Problem And Even
The investor's chief problem - and even his worst enemy - is likely to be himself.
About this quote
From The Intelligent Investor (1949), Chapter 8, in Graham's analysis of how emotional reactions to price swings cause investors to buy high and sell low. Graham argued that the greatest risk in investing is not market volatility but the investor's own tendency to react to it irrationally. This insight became foundational to the field of behavioral finance.
Source
The Intelligent Investor, Chapter 8 (1949)
