Undervaluations caused by neglect or prejudice may persist for an inconveniently long time, and the same applies to inflated prices caused by over-enthusiasm or artificial stimulants.
Benjamin GrahamNo matter how careful you are, the one risk no investor can ever eliminate is the risk of being wrong. Only by insisting on what Graham called the "margin of safety" - never overpaying, no matter how exciting an investment seems to be - can you minimize your odds of error.
Benjamin Grahamthere is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present financial picture.
Benjamin Graham