The Reservoir system will function not only as an equalizer of busines — Benjamin Graham

"Whether we like it or not, government intervention in the face of surplus is here to stay."

"The modern world is not geared properly to the storage of goods."

"The history of the past fifty years, and longer, indicates that a diversified holding of representative common stocks will prove more profitable over a stretch of years than a bond portfolio, with one important provisio—that the shares must be purchased at reasonable market levels, that is, levels that are reasonable in the light of fairly well-defined standards derived from past experience."

"THERE is widespread agreement among economists that abuse of credit constitutes one of the chief unwholesome elements in business booms and is mainly responsible for the ensuing crash and depression."

"A price decline is of no real importance to the bona fide investor unless it is either very substantial—say, more than a third from cost—or unless it reflects a known deterioration of consequence in the companys position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected."

"The value of the security analyst to the investor depends largely on the investors own attitude. If the investor asks the analyst the right questions, he is likely to get the right—or at least valuable— answers."

"Even if we end terror and even if we eliminate tension, even if we reduce arms and restrict conflict, even if peace were to come to the nations, we would turn from this struggle only to find ourselves on a new battleground as filled with danger and as fraught with difficulty as any ever faced by man. For many of our most urgent problems do not spring from the cold war or even from the ambitions of our adversaries. These are the problems which will persist beyond the cold war. They are the ominous obstacles to mans effort to build a great world society--a place where every man can find a life free from hunger and disease-a life offering the chance to seek spiritual fulfillment unhampered by the degradation of bodily misery."

"We were standing where there was a fine view of the harbor and its long stretches of shore all covered by the great army of the pointed firs, darkly cloaked and standing as if they waited to embark. As we looked far seaward among the outer islands, the trees seemed to march seaward still, going steadily over the heights and down to the waters edge."

"Skepticism, like chastity, should not be relinquished too readily."

"Necessità l ci nduce, e non diletto."

"Gentlemen look on this wonder, Whatever the bids of the bidders they cannot be high enough for it, For it the globe lay preparing quintillions of years without one animal or plant, For it the revolving cycles truly and steadily rolld. In this head the all-baffling brain, In it and below it the makings of heroes. (7)"

"Roaming in thought over the Universe, I saw the little that is Good steadily hastening towards immortality, And the vast all that is calld Evil I saw hastening to merge itself and become lost and dead."