GAFM GLOBAL ACADEMY OF FINANCE AND MANAGEMENT  ®

10.  The true investor scarcely ever has to sell his shares, and at all other times he is free di disregard the current price quotation. He need pay attention to it and act upon it only to the extent that it suits his book, and no more. Thus the investor who permits himself to be stampeded or unduly worried by unjustified market declines in his holdings is perversely transforming his basic advantage into a basic disadvantage. That man would be better off if his stocks had no market quotation at all, for he would then be spared the mental anguish caused him by other persons' mistakes of judgment. - Chapter II, The Investor and Stock-Market Fluctuations, p. 40

Five key takeaways from each of the chapters of "The Intelligent Investor" by Benjamin Graham:

Chapter 1: Investment vs. Speculation  

1.  Investing vs. Speculation: Graham defines investing as an analytical and cautious approach that prioritizes safety and reasonable returns, whereas speculation often ignores safety and seeks rapid capital appreciation.

2.  Embrace the Defensive: He encourages investors to adopt a defensive mindset that focuses on minimizing risk and avoiding reckless behavior in the stock market.

3.  Long-Term Perspective: Graham emphasizes the importance of long-term thinking and patient investing to withstand market fluctuations.