“To establish the right price for a stock the market must have adequate information, but it by no means follows that if the market has this information, it will thereupon establish the right price. The market's evaluation of the same data can vary over a wide range, dependent on bullish enthusiasm, concentrated speculative interest and similar influences, or bearish disillusionment. Knowledge is only seen as one ingredient in arriving at a stock's proper price. The other ingredient, fully as important as information, is sound judgement.” - Benjamin Graham
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