Wednesday, September 10, 2008

Whistling in the dark?

Times like these in the market overshadow news like this of emerging (potentially disruptive) product lines.

Maybe it's whistling in the dark but is seems like a good time to quote Ben Graham (emphasis added),

“…the influence of what we call analytical factors over the market price is both partial and indirect – partial, because it frequently competes with purely speculative factors which influence the price in the opposite direction; and indirect, because it acts through the intermediary of people’s sentiments and decisions. In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in accordance with its specific qualities. Rather should we say that the market is a voting machine, whereon countless individuals register choices which are the product partly of reason and partly of emotion.”
Whistling in the dark? Not with a Mirasol display you won't. Plenty of light to see.

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