had following to say:The chain-store grocery trade contained within itself many elements of relative stability, such as stable demand, diversified locations, and rapid inventory turnover. A typical large unit in this field, provided only it abstained from reckless expansion policies, was not likely to suffer tremendous fluctuations in its earnings.
Alas!!! People would listen to what others have said in the past!!!!
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1 comment:
Hi,
most people either don't know Graham or think we are way past his times.
Current realities however show principles based on rationality don't become obsolete.
I think its good that most people don't follow value methodology. It gives us that much less competition.
Happy investing
Ekram
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