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1.Graham states that investing on the basis of projection is a fool's errand; Investing on the basis of protection is the best solution. Give a

1.Graham states that "investing on the basis of projection is a fool's errand; Investing on the basis of protection is the best solution." Give a real life example (individual company) where people may be investing on the basis of projection. Then explain how someone should invest on the basis of protection.

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