Letters by Topic
Letters on Mr. Market
A personification of the stock market as a moody investor who offers to buy or sell shares at varying prices driven by emotion rather than logic.
1978·First introduction of the Mr. Market allegory
Imagine a restless character called Mr. Market who appears daily at prices of your holdings that fluctuate widely.
1987·On short-term irrationality vs. long-term rationality
In the short run, the market is a voting machine. In the long run, it is a weighing machine.
Explore the concept
Mr. Market is one of the ideas behind the ValueOS tools. See it applied to real companies.