Some of the Wisest Words Ever Spoken About Investing – MoneyBeat – WSJ

Still such a beautiful and effective mental model…

Graham also taught that stocks aren’t pieces of paper (or, in today’s terms, electronic blips); they are units of ownership in real businesses whose underlying value doesn’t change thousands of times a day.

Graham devised the metaphorical figure “Mr. Market,” whose mood swings — from euphoria to misery — determine stock prices. You don’t have to trade with Mr. Market when he wants to, but only when you want to.

Source: Some of the Wisest Words Ever Spoken About Investing – MoneyBeat – WSJ

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