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Simple Arithmetic and Your Stocks

Written By: Tom Hankes  |  Posted: Sunday, July 3rd, 2016

Benjamin Graham, Warren Buffett's mentor, wrote "Buy not on optimism, but on arithmetic." Unfortunately, at every speculative peak, a different message emerges, suggesting that the calculator is broken, that "this time is different," and that "the old valuation measures no longer apply."

             "The investor of today does not profit from yesterday's growth." - Warren Buffett

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