Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least some of the individual issues.
Benjamin GrahamWe have not known a single person who has consistently or lastingly make money by thus "following the market". We do not hesitate to declare this approach is as fallacious as it is popular.
Benjamin GrahamThe true investor... will do better if he forgets about the stock market and pays attention to his dividend returns and to the operation results of his companies.
Benjamin GrahamThe investor should be aware that even though safety of its principal and interest may be unquestioned, a long term bond could vary widely in market price in response to changes in interest rates.
Benjamin Graham