Few know that Albert Einstein invested much of his 1921 Nobel Prize money in stock markets. However, he lost a bulk of it in the stock market crash in 1929. Pity that he could not lay his hands on Benjamin Graham’s Security Analysis that was first published only in 1934.

But he is not to blame. For in those days investing hardly called for any qualitative checks. What was lost on Einstein is not a secret formula to help find cheap stocks. But the behavioral trait to buy only when others are fearful.

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