2-1a7a3 Ben Graham - 'Markets are a voting machine in the short term and a weighing machine in the long term'

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• 2-1a7a4 In the long run reality gets in; narrative can get you so far

Related:

• 2-1b2 Play in different time horizon. That is, in the long-run.
• 5-1b4a Amara’s law - we expect too much in the short-run, but too little in the long-run
• 13-1a3a4b The long run of the evenly rotating economy (ERE) is not real at all, but a very useful theoretical construct that enables the economist to point out the direction in which the market is moving at any given time