The Market Is a Weighing Machine, but in the Short Run, It's a Voting Machine

If you want to beat the market, you can't take your instructions from the market. Ben graham said that in the long run, the market is a weighing machine, but in the short run, it's a voting machine. The people who engage in that kind of thinking are what they call traders. Trading, to me, has a connotation of shortter. I'm an investor. I try to figure out what companies are going to do and what their securities are going to be worth. So our goal as long term investors is to figure out value. We want to do the weighing earlier and better. And we conclude, we trust, that eventually the market will atch up