Benjamin Graham Quote: In the short run, the market is a voting

"In the short run, the market is a voting machine but in the long run, it is a weighing machine."

— Benjamin Graham

In the short run, the market is a voting machine but in the long run, it is a weighing machine.

— Benjamin Graham

From The Intelligent Investor

Source

The Intelligent Investor, Chapter 8

Obvious prospects for physical growth in a business do not translate into obvious profits for investors.

The essence of investment management is the management of risks, not the management of returns.

The margin of safety is always dependent on the price paid.