Benjamin Graham Quote

In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in accordance with its specific qualities. Rather should we say that the market is a voting machine, whereon countless individuals register choices which are the product partly of reason and partly of emotion.


Security Analysis: Principles and Technique (ed. 1962)


In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in...

In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in...

In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in...

In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in...