"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."
"Although there are good and bad companies, there is no such thing as a good stock; there are only good stock prices, which come and go."
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Source: Benjamin Graham (1959). “The Intelligent Investor: A Book of Practical Counsel”
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