TIL Ben Graham exited GEICO a few years before it crashed -97% (from $61 to $2/sh):

"I am glad I am not connected with it now because of the terrific losses."

GEICO was a 500x+ bagger for Ben Graham by 1972, but he was close to losing most of that... The stock price didn't recover for another 10+ years.

Buffett swooped in and bought 50% of the company during this crash.

Shows how the results of buying and holding are highly dependent on... timing?

https://t.co/vhm7pawGsF

https://t.co/H5X4GLjHoc