"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 world of securities, courage becomes the supreme virtue after adequate knowledge and a tested judgment are at hand."
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Source: Benjamin Graham (1959). “The Intelligent Investor: A Book of Practical Counsel”
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