Market Analysis
Predicting price paths or averages rather than comparing price to intrinsic value.
Published: 2025-12-26
Definition
Market analysis is the attempt to forecast short- or medium-term price movements of securities or indexes.
Graham's view
Graham treats market forecasts as speculative because they rest on opinion and trends rather than verifiable value.
How to use it
If you engage in market calls, keep them segregated from investment decisions and size them like speculation.