The Intelligent Investor

by Benjamin Graham

To enjoy a reasonable chance for continued better than average results, the investor must follow policies which are (1) inherently sound and promising, and (2) not popular on Wall Street.

Note that investing, according to Graham, consists equally of three elements:

“dollar-cost averaging” enables you to put a fixed amount of money into an investment at regular intervals.

The main difference between first- and second- grade bonds is usually found in the number of times the interest charges have been covered by earnings.