Evidence receipt / belief
Published · transcript-backedBen Gilbert: belief
21 Apr 2021 Acquired Berkshire Hathaway Part I
“Of course, we are all a product of our environment, and I think one of the phrases that is a Buffett-ism that applies to this is we've talked about the market weighing machine.”
Source trail
Everything needed to verify it.
- Speaker
- Ben Gilbert
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 21 Apr 2021
- Publisher
- Acquired
- Episode
- Berkshire Hathaway Part I
Transcript context
…Totally. Now, to be fair to Graham, we know he was doing all this through the depression. If you live 25 years, and the stock market is flat to down for 25 years, of course, you're going to think this way. Yeah. Of course, we are all a product of our environment, and I think one of the phrases that is a Buffett-ism that applies to this is we've talked about the market weighing machine. If you think about a weighing machine, then it effectively equates value to price. Whatever you are spending is what it's worth. Or is it a voting machine where people are setting price and voting on the price, independent of the weight or the value of the actual underlying security? This is where the realization comes in that in the long run it is a weighing machine, but in the short run, it's a voting machine, the stock market. Totally. Sometimes the short run lasts longer than you would think.…
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