Graham also goes on to separate intelligent investors into two camps:
In contrast to the conventional view, an enterprising investor is not one who is more risky or aggressive; instead, it is one who has an interest in investing and is willing to work hard for it. I think it is important for investors to figure out which category they fall into.
- a widow who cannot afford unnecessary risks,
- a physician who cannot devote the time for proper analysis, and
- a young man whose small investment will not return enough gain to justify the extra effort.