The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists. (Benjamin Graham)

The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists.

Benjamin Graham

Related topics

cheap forever investor market pendulum pessimism realist

Related quotes

A truer image of the world, I think, is obtained by picturing things as entering into the stream of time from an eternal world outside, than from a view which regards time as the devouring tyrant of all that is.

Bertrand Russell

Another great evil arising from this desire to be thought rich; or rather, from the desire not to be thought poor, is the destructive thing which has been honored by the name of "speculation"; but which ought to be called Gambling.

William Cobbett

From too much love of living, From hope and fear set free, We thank with brief thanksgiving Whatever gods may be That no man lives forever, That dead men rise up never; That even the weariest river Winds somewhere safe to sea.

Algernon Charles Swinburne

The genius of our ruling class is that it has kept a majority of the people from ever questioning the inequity of a system where most people drudge along, paying heavy taxes for which they get nothing in return.

Gore Vidal

Mistakes are a part of being human. Appreciate your mistakes for what they are: precious life lessons that can only be learned the hard way. Unless it's a fatal mistake, which, at least, others can learn from.

Al Franken