"Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed."
"Abnormally good or abnormally bad conditions do not last forever."
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Source: Benjamin Graham, David Dodd (2002). “Security Analysis: The Classic 1940 Edition”, McGraw Hill Professional
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