"Wherever you go it's the same fear. And the same protective devices. There is one big error I think and partly my fault which is that a lot of things are taught to beginners which you can cast off later on."

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We urge the beginner in security buying not to waste his efforts and his money in trying to beat the market. Let him study security values and initially test out his judgment on price versus value with the smallest possible sums.

— Benjamin Graham