"Common stocks have one important investment characteristic and one important speculative characteristic. Their investment value and average market price tend to increase irregularly but persistently over the decades, as their net worth builds up through the reinvestment of undistributed earnings. However, most of the time common stocks are subject to irrational and excessive price fluctuations in both directions, as the consequence of the ingrained tendency of most people to speculate or gamble”.
- Benjamin Graham
The mission of the Centre is to research, teach, apply and promote the style of investing developed by Benjamin Graham in the early 1930s, referred to as Value Investing.
The centre, its director and the graduates of the programs that the Centre supports adhere to the following three principles of value investing. First, we think of stocks in the same way that a business person would think of a business. Second, we do not follow but instead try to take advantage of the manic depressive Mr. Market. Third, we always look for a margin of safety.