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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?


To: Math Junkie who wrote (13746)4/13/2001 4:11:35 PM
From: Kirk ©  Respond to of 42834
 
Thanks for the compliment earlier.

Re Graham...

"Intelligent Investor" Chapter 8, paragraph 5 (read 4 too...) sez:

"We are convinced that the intelligent investor can derive satisfactory results from pricing of either type (market timing or fundamental analysis via price). We are equally sure that if he places his emphasis on timing, in the sense of forecasting, he will end up as a speculator and with a speculator's financial results."

In his summary for chapter eight, he explains:

"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."

I consider myself an investor and Brinker a speculator as described by Benjamin Graham. You and others seem to have a different opinion than Graham.