Quote #0
In the short run, the market is a voting machine but in the long run, it is a weighing machine.
Benjamin Graham
About This Quote
This quote needs no introduction—at least for now. We're working on adding more context soon.
Interpretation
Market prices can be driven by popularity, sentiment, and short-term reactions, but over longer periods they tend to reflect underlying business value and fundamentals.
Variations
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
