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Kindle Notes & Highlights
The intelligent investor is a realist who sells to optimists and buys from pessimists.
No statement is more true and better applicable to Wall Street than the famous warning of Santayana: “Those who do not remember the past are condemned to repeat it.”
Obvious prospects for physical growth in a business do not translate into obvious profits for investors.
The habit of relating what is paid to what is being offered is an invaluable trait in investment.
Graham urges you to invest only if you would be comfortable owning a stock even if you had no way of knowing its daily share price.
