|
4. Market Timing: Graham suggests that market timing is difficult and
not a reliable strategy for enterprising investors.
5. Contrarian Investing: Enterprising investors should be contrarian and act
independently of market trends, seeking opportunities when others are fearful.
Chapter 8: The Investor and Market Fluctuations
1. Market Movements: Graham emphasizes that market fluctuations are a
natural part of investing and should not deter investors.
2. Contrarian Approach: Be wary when the market is euphoric and look for
opportunities when it's pessimistic.
3. Margin of Safety: Reiterated as a key principle, the margin of safety
protects investors from market volatility.
4. Speculative Excesses: Be cautious when speculation and irrational exuberance
drive stock prices to unsustainable levels.
|