A note from Daniel

Benjamin Graham, the father of value investing: “markets are a voting machine in the short term and a weighing machine in the long term” In other words, assets with actual substance or weight-fundamental value, in finance-speak—have the best prospects over the long term. The implication is that it may be prudent not to let any short term razzle-dazzle distract you. Just because something wins a popularity contest today doesn't mean it will age well.

Daniel Read Write Own, page 153 · March 12, 2024 Save to shelf
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