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The extent to which you’re exposed to long term principles is directly related to the time you’re in the market. Ie trader vs investor

“In the short run, the market is a voting machine, but in the long run, it is a weighing machine”

- benjamin graham

Graham died back when stocks were traded by guys shouting orders from a pit. High frequency trading was decades away, as was Wall Street's push for:

- creative accounting (Enron, Worldcom)

- zero-interest rate policy

- SPAC IPOs

- exotic securitization (credit default swaps)

...that made valuation more opaque over time. The age of value investing is long gone.