"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."
"Nothing important on Wall Street can be counted on to occur exactly in the same way as it happened before."
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Source: Benjamin Graham (1965). “The Intelligent Investor: A Book of Practical Counsel”, p.33, Prabhat Prakashan
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