Earlier quoted context omitted.
> its a comedy in the sense that market prices currently have no relationship to fundamentals from a Graham perspective You missed the whole point of Security Analysis and Intelligent Investor(another Graham book). The market is irrational from time to time, so you patiently wait on the side when prices are overvalued and invest in fundamentally good companies when prices are undervalued.
Not missed on a large enough scale. Prices used to fluctuate and occasionally be below the fundamental value. That never happens anymore, supply and demand issues. Given that fundamental value never exceeds price, if I were investing instead of speculating/gambling I'd never buy in. And if you're speculating/gambling, the fundamental value of a company is irrelevant. Or rephrased the above is the comedy I'm referring…
Really, it never happens?
Forget about me, if the worlds greatest value investor Warren Buffett and his managers are buying. What more do you want.
As I said you missed the whole point of those books. You should read the books again, it takes multiple readings to understand them.