It helps to put a face to the name “Mr. Market” in terms of internalizing Graham’s important lesson. There’s no shortage of faces one can associate with the market. I’ve always opted for Jim Cramer because he was super bearish (and wrong) about Berkshire at the exact low in early 2000:
“At the end of the week I found myself repeatedly drawn to shorting Berkshire Hathaway. That premium-selling repository of brands that once sold at a premium seems ripe for the banging”.
On March 10, 2000, Berkshire Hathaway’s Class A shares (BRK.A) were trading at approximately $56,100. This was during the dot-com bubble, a period of significant market volatility.
The wisdom is truly centuries old: "Popular Delusions and the Madness of Crowds" is essential reading for every investor, if only Mackay's chapter on Tulipomania. That dot.coms were the tulips of a latter day is now more than evident: newfound milliionairs were promptly dispatched as we can all recall. Which are the tulips of today? Anyone's guess.
One of my favorite things about writing on this topic is seeing up-close how much human nature and emotion dominates this supposedly rational field. Graham saw how investors reacted to fluctuations (usually poorly) throughout the first half of the 20th century -- and it's still pretty much the same today. Time really is a flat circle.
It helps to put a face to the name “Mr. Market” in terms of internalizing Graham’s important lesson. There’s no shortage of faces one can associate with the market. I’ve always opted for Jim Cramer because he was super bearish (and wrong) about Berkshire at the exact low in early 2000:
“At the end of the week I found myself repeatedly drawn to shorting Berkshire Hathaway. That premium-selling repository of brands that once sold at a premium seems ripe for the banging”.
— Jim Cramer, March 10, 2000.
😂
🤣🤣🤣 Jim Cramer is the perfect embodiment of Mr. Market. That quote there is an all-timer. Hard to live that one down.
On March 10, 2000, Berkshire Hathaway’s Class A shares (BRK.A) were trading at approximately $56,100. This was during the dot-com bubble, a period of significant market volatility.
The wisdom is truly centuries old: "Popular Delusions and the Madness of Crowds" is essential reading for every investor, if only Mackay's chapter on Tulipomania. That dot.coms were the tulips of a latter day is now more than evident: newfound milliionairs were promptly dispatched as we can all recall. Which are the tulips of today? Anyone's guess.
One of my favorite things about writing on this topic is seeing up-close how much human nature and emotion dominates this supposedly rational field. Graham saw how investors reacted to fluctuations (usually poorly) throughout the first half of the 20th century -- and it's still pretty much the same today. Time really is a flat circle.