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From the reading

Stock markets, derivatives, and how funds are managed.

Stock markets

“In the short run, the market is a voting machine, but in the long run it is a weighing machine.”

Benjamin GrahamThe Intelligent Investor

Derivatives

“You only find out who is swimming naked when the tide goes out.”

Warren BuffettBerkshire Hathaway letter, 1992

Fund management

“Risk means more things can happen than will happen.”

Elroy DimsonLondon Business School

Quoted for study. Not a tip, a call, or a promise from QISM.