"In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses. And the stock market is nothing but a giant distraction in that quest to acquire returns that business earns."
☆BusinessWeek–Bogle:’Hope Will Return'(2007/08/17)
As Ben Graham said:"In the short-run, the market is a voting machine – reflecting a voter-registration test that requires only money, not intelligence or emotional stability – but in the long-run, the market is a weighing machine."
☆Warren Buffett’s Letters to Berkshire Shareholders 1993
"Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised."
☆Fortune–Warm Tip from Warren Buffett(1988/12/19)
３つめの出典の副題は"It’s time to buy Freddie Macs"って付いてて、