The Art of Rational Investing | Buffett's 1987 Crash Wisdom

Warren Buffett's 1987 letter, written after Black Monday's historic crash, transforms market chaos into investment wisdom through his famous Mr. Market allegory. Instead of viewing volatility as threatening, Buffett teaches us to see it as opportunities created by other investors' emotional swings.

The letter's centerpiece is Ben Graham's Mr. Market concept - imagining market prices as daily offers from an emotionally unstable partner. This reframes market volatility from something to fear into something to exploit, emphasizing that Mr. Market is "there to serve you, not guide you."

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