"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."
"In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility."
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Source: Benjamin Graham (1965). “The Intelligent Investor: A Book of Practical Counsel”, p.23, Prabhat Prakashan
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