http://www.mightybargainhunter.com/2007/08/16/the-market-needs-nothing/ Personal finance, commentary, and spending less the easy way Fri, 19 Mar 2010 14:24:44 -0400 http://wordpress.org/?v=2.8.6 hourly 1 http://www.mightybargainhunter.com/2007/08/16/the-market-needs-nothing/comment-page-1/#comment-85627 Steve Austin Fri, 17 Aug 2007 21:02:05 +0000 http://www.mightybargainhunter.com/2007/08/16/the-market-needs-nothing/#comment-85627 In the long run, the market tends to be right. In the short run, it tends to be wrong. Of course, using right and wrong in this fashion, one must remember that it's market-moral relativism: there are many different ways to value the market when deciding whether it is right or wrong at any point in time. I have paraphrased Graham here, I believe. (re: the stock market, in the short turn, it's a voting machine; in the long run, it's a weighing machine) In the long run, the market tends to be right. In the short run, it tends to be wrong. Of course, using right and wrong in this fashion, one must remember that it’s market-moral relativism: there are many different ways to value the market when deciding whether it is right or wrong at any point in time. I have paraphrased Graham here, I believe. (re: the stock market, in the short turn, it’s a voting machine; in the long run, it’s a weighing machine)

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