An Old Quote

Posted by Myles B. Brandt, CFP® on 3 August 2011 | 0 Comments


An old quote from an old favorite: Benjamin Graham's "The Intelligent Investor."

"These copybook maxims have always been easy to enunciate and always difficult to follow - because they go against that very human nature which produces that excesses of bull and bear markets. It is almost a contradiction in terms to suggest as a feasable policy for the average stockowner that he lighten his holdings when the market advances beyond a certain point and add to them after a corresponding decline. It is because the average man operates, and apparently must opperate, in opposite fashion that we have had the great advances and collapses of the past; and - this writer beleives - we are likely to have them in the future."

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