"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."
"Wall Street has a few prudent principles; the trouble is that they are always forgotten when they are most needed."
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Source: Benjamin Graham (1965). “The Intelligent Investor: A Book of Practical Counsel”, p.144, Prabhat Prakashan
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