Love requires that true education should be easily accessible to all and should be of use to every villager in this daily life. The emphasis laid on the principle of spending every minute of one's life usefully is the best education for citizenship.
Capitalism drives the employers to do their worst to the employed, and the employed to do the least for them. And it boasts all the time of the incentive it provides to both to do their best! . . . The reason the Capitalist system has worked so far without jamming for more than a few months at a time, and then only in places, is that it has not yet succeeded in making a conquest of human nature so complete that everybody acts on strictly business principles.
The machines that are first invented to perform any particular movement are always the most complex, and succeeding artists generally discover that, with fewer wheels, with fewer principles of motion, than had originally been employed, the same effects may be more easily produced. The first systems, in the same manner, are always the most complex.
When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. And that same principle works in investing.
Of course, we will face fear, experience ridicule, and meet opposition. Let us have the courage to defy the consensus, the courage to stand for principle. Courage, not compromise, brings the smile of God's approval.
But, surprise - none of these blockbuster events made the slightest dent in Ben Graham's investment principles. Nor did
they render unsound the negotiated purchases of fine businesses at sensible prices. Imagine the cost to us, then, if we had let a fear of unknowns cause us to defer or alter the deployment of capital. Indeed, we have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.