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A humble rejoinder to the unknown author, courtesy a rather respected judge
of Value:
"The market is not a 'weighing machine' on which the value of each issue is
recorded by an exact and impersonal mechanism, in accordance with its
specific qualities. Rather, it should be said that the market is a voting
machine, whereon countless individuals register choices which are the
product partly of reason and partly of emotion."
Security Analysis, 1934
Graham & Dodd
Respectfully,
Gitanshu
>If this article does not explain the madness nothing does <SNIP>
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