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.
Benjamin GrahamThe essence of investment management is the management of risks, not the management of returns.
Benjamin GrahamThe intelligent investor is a realist who sells to optimists and buys from pessimists.
Benjamin Graham