"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."
"Why should the cotton growers suffer if there is shortage of wheat?"
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Source: Storage and Stability. Book by Benjamin Graham, Part II, Chapter V, Reservoir System and Commodities, p. 72, 1937.
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