The Importance of Waiting

I just wondered do you think that a small investor who's learning to go through this process and is being patient could rely on on this old quote from Ben Graham where he says essentially you buy a wonderful business when the market flexes. Could people rely on studying for a couple of years and making a watch list of some companies they'd like to buy and rely on the market fluctuating and putting those on sale? I think that's built into human nature it's built into I think you know I just remember just before the 1930s when 1929 crashed there's some famous newspaper office that stock seemed to know something was about to happen.