"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."
"Never mingle your speculative and investment operations in the same account nor in any part of your thinking."
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Source: Benjamin Graham (2009). “The Intelligent Investor, Rev. Ed”, p.22, Harper Collins
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