"In my view, America has never had the opportunity to enter paradise. Europe enjoys the paradise it enjoys, in part because the United States provides the overall security that allows Europe to live in a system where military power is not a major issue."

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In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact and impersonal mechanism, in accordance with its specific qualities. Rather should we say that the market is a voting machine, whereon countless individuals register choices which are the product partly of reason and partly of emotion.

— Benjamin Graham