"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."
"It must be fundamentally wrong to reduce production of food and fiber while one-third of our population is still ill fed and ill clothed."
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Source: Storage and Stability. Book by Benjamin Graham, Part IV, Chapter XVI, Reservoir Plan Versus Crop Control, p. 195, 1937.
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