"Wall Street people learn nothing and forget everything"

This quote by Benjamin Graham is a criticism of Wall Street individuals and their lack of knowing and memory. He indicates that Wall Street individuals are not making the effort to learn and understand the markets and the investments they are making. Rather, they are relying on short-term gains and fast revenues, without considering the long-term ramifications of their decisions. Graham recommends that Wall Street individuals are not putting in the time to gain from their mistakes and are instead duplicating the same errors over and over once again. He thinks that Wall Street individuals should be more conscious of their choices and take the time to learn from their mistakes in order to make much better decisions in the future. This quote functions as a tip to Wall Street people to take the time to discover and keep in mind the lessons they have actually discovered in order to make much better decisions in the future.