Text #752

The lessons of market history are clear. Styles and fashions in investors' evaluations of securities can and often do play a critical role in the pricing of securities. The stock market at times conforms well to the castle-in-the-air theory. For this reason, the game of investing can be extremely dangerous.

—from A Random Walk Down Wall Street, a book by Burton G. Malkiel

Active since May 5, 2021.
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