A Quote by Benjamin Graham
In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in accordance with its specific qualities. Rather should we say that the market is a voting machine, whereon countless individuals register choices which are the product partly of reason and partly of emotion.
Related Quotes
In the short-run, the market is a voting
machine - reflecting a voter-registration test that requires only
money, not intelligence or emotional stability - but in the long-
run, the market is a weighing machine.
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
The machine is impersonal, it takes the pride away from a piece of work, the individual merits and defects that go along with allwork that is not done by a machine--which is to say, its little bit of humanity.
There is, however, one feature that I would like to suggest should be incorporated in the machines, and that is a 'random element.' Each machine should be supplied with a tape bearing a random series of figures, e.g., 0 and 1 in equal quantities, and this series of figures should be used in the choices made by the machine. This would result in the behaviour of the machine not being by any means completely determined by the experiences to which it was subjected, and would have some valuable uses when one was experimenting with it.
It [the free market] is an organizational way of doing things, featuring openness, which enables millions of people to cooperate and compete without demanding a preliminary clearance of pedigree, nationality, color, race, religion, or wealth. It demands only that each person abide by voluntary principles, that is, by fair play. The free market means willing exchange; it is impersonal justice in the economic sphere and excludes coercion, plunder, theft, protectionism, and other anti-free market ways by which goods and services change hands.
The chrysanthemums' astringent fragrance comes
Each year to disguise the clanking mechanism
Of machine within machine within machine.
The course of the flight up and down was exceedingly erratic, partly due to the irregularity of the air, and partly to lack of experience in handling this machine. The control of the front rudder was difficult on account of its being balanced too near the center.
Every theory in philosophy, which is built on pure conjecture, is an elephant; and every theory that is supported partly by fact, and partly by conjecture, is like Nebuchadnezzar's image, whose feet were partly of iron, and partly of clay.
If all individuals were conditioned to machine efficiency in the performance of their duties there would have to be at least one person outside the machine to give the necessary orders; if the machine absorbed or eliminated all those outside the machine, the machine will slow down and stop forever.
... regard this body as a machine which, having been made by the hand of God, is incomparably better ordered than any machine that can be devised by man, and contains in itself movements more wonderful than those in any machine. ... it is for all practical purposes impossible for a machine to have enough organs to make it act in all the contingencies of life in the way in which our reason makes us act.
I think you have to find how the machine can work for you. That's what I mean by "attaching yourself to the machine," 'cause the machine is going to be there, and you can rage against the machine, which is cool, but there's ways that you can benefit off the machine if you're savvy enough and you're sharp enough, smart enough. We all got to live and eat.
The interesting point is that the polarization is not so much among the public, although there's some of that. The polarization on the immigration issue is really between the elites and the public. In other words, this is not so much a right-left issue, which it is partly.
We discovered a mechanism which is like the garbage machine of the body. We need to remove damaged proteins and create new ones in their place, and we discovered the machine that does this.
The romantics were reacting against a modern culture that divided individuals from themselves (through specialisation in the division of labor), from others (the competitive market place) and from nature, which had been reduced down to a machine through technology. The antidote to such division is unity and wholeness, which means feeling at home again in the world.
Identity was partly heritage, partly upbringing, but mostly the choices you make in life. ~ Bran
I suspect that music has qualities both of speech and writing - partly built in, partly individually constructed - and this goes on all through one's life.
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