"AN INVESTMENT OPERATION IS ONE WHICH, UPON THOROUGH ANALYSIS, PROMISES SAFETY OF PRINCIPAL AND A SATISFACTORY RETURN. OPERATIONS NOT MEETING THESE REQUIREMENTS ARE SPECULATIVE"
B. Graham & D. Dodd. (1940). Security Analysis
"All the real money in investment will have to be made—as most of it has been in the past— not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value"
Benjamin Graham. (1949). The Intelligent Investor
Rule Number 1, Don't Lose [MONEY]. Rule Number 2, Don't Forget The First Rule.