Quote for the Week
If you can throw your mind, as I can, as far back as 1914, you would be struck by some extraordinary differences in Wall Street then and today. In a great number of things, the improvement has been tremendous. The ethics of Wall Street are very much better. The sources of information are much greater, and the information itself is much more dependable. There have been many advances in the art of security analysis. In all those respects we are very far ahead of the past.
In one important respect we have made practically no progress at all, and that is in human nature. Regardless of all the apparatus and all the improvements in techniques, people still want to make money very fast. They still want to be on the right side of the market. And what is most important and most dangerous, we all want to get more out of Wall Street than we deserve for the work we put in. — Ben Graham (source)
From the Archives
Last Call
- You’re Not as Dumb as You Feel – H. Greenberg
- Stocks for the Long Run? Setting the Record Straight – Enterprising Investor
- The Silver Lining of Market Bubbles and AI Investment – AEI
- Is the Short-Term Reversal Effect Dead or Just Not Salient Anymore? – Klement on Investing
- Meme Stonks Revisited – Verdad
- Lazy Work, Good Work – M. Housel
- Morgan Housel: Get Rich, Stay Rich (podcast) – Knowledge Project
- Finding What We’re Not Looking For – Better Letter
- Misinformation Works, and a Handful of Social ‘Supersharers’ Sent 80% of It in 2020 – TechCrunch
- How the Guinness Brewery Invented the Most Important Statistical Method in Science – Scientific American