unfortunate-fact-great-foolish-excess-prices-common-stocks-aggregate-partly

It is an unfortunate fact that great and foolish excess can come into prices of common stocks in the aggregate. They are valued partly like bonds, based on roughly rational projections of use value in producing future cash. But they are also valued partly like Rembrandt paintings, purchased mostly because their prices have gone up, so far.

0/5 (0)

Charlie Munger's Popular Quotes

0 Comments

Login to join the discussion