The stock market is a "psychotic drunk" · Transcript · BuffettMungerGPT

WarrenStocks, the beauty of stocks is they do sell at silly prices from time to time. I mean, that's how Charlie and I have gotten rich. You know, Ben Graham writes about it in Chapter 8 of the Intelligent Investor. And Chapter 8 says that in the market, you're going to have a partner named Mr. Market. And the beauty of him as your partner is that he's kind of a psychotic drunk. And he will do very weird things over time. And your job is to remember that he's there to serve you and not to advise you. And if you can keep that mental state, that all those thousands of prices that Mr. Market is offering you every day on every major business in the world, practically, that he is making lots of mistakes. And he makes them for all kinds of weird reasons. And all you have to do is occasionally oblige him when he offers to either buy or sell from you at the same price on any given day, any given security.