In 1949, Ben Graham created the term "Mr.Market," as a personification of the stock exchange. To this day, his book "The Intelligent Financier" works as a guidepost for value financiers and the idea of Mr. Market remains one of the most accessible methods to comprehend the erratic behavior of the stock exchange.
In this video, Phil introduces Mr. Market and how we can work with him to make wise investments.
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With the markets at all-time highs and many indicators show a looming recession, is it time to sell our wonderful companies?
More like get your buckets and wheelbarrows ready. 😁
I keep an emergency fund to buy when there is a major event. I have trouble selling my wonderful companies when the price is irrationally high, because they are still wonderful.
@@damilla1958 Phil used to teach to sell when a wonderful company reached 20% above the calculated intrinsic value. Lately that strategy would limit gains. He has been reconsidering that strategy since he has missed out on some massive stock valuations. CMG is one example.
It also depends on one’s personal situation. I’m retired and am more conservative – have Benn selling lately because I don’t want to ride the market down if it goes that way. Locking in gains is reasonable for me.
There’s no price discovery when the FED intervenes.
Ben Graham had a 1 in a billion mind, truly extraordinary.