"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."

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Source : Benjamin Graham (2009). “The Intelligent Investor, Rev. Ed”, p.13, Harper Collins

Benjamin Graham

#Intelligent Quotes #Swings Quotes #Optimism Quotes

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