Crashes and the rules they brought · 1929–1950s
1949
The Intelligent Investor
Benjamin Graham recommends investing a fixed amount regularly.
Graham's book for ordinary investors (1949) described "Mr. Market", a moody partner offering prices every day, and recommended investing the same amount at regular intervals.
💡 Why it made sense then
Most people can't time the market, so a steady habit protects them from buying only when prices are high.
Ideas it gave us
- 🧺 Dollar-cost averaging
Dollar-cost averaging means investing the same amount at regular intervals, whatever the price, so you buy more shares when prices are low and fewer when they're high.
Practise with $10,000 in play money
Free. No real money involved.