Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed.

 


See also
Warren Buffett
Philip FiBenjamin Grahamr
John Burr Williams
John Neff
Valuation using discounted cash flows
Gordon model
Benjamin Graham formula
William J. Warren Buffett describes The Intelligent Investor as "the best book about investing ever written. He later separated from his wife Estey in New York after Benjamin Graham refused his offer of living in New York for six months and France for six months.

Graham's followers include Warren Buffett William J. In fact Graham had such an overwhelming influence on his students that two of them Buffett and Kahn named their sons Howard Graham Buffett and Thomas Graham Kahn after him.