A quote widely attributed to famed investor Benjamin Graham calls the market a voting machine in the short term and a weighing machine in the long term. Put simply, stocks often trade based on popularity rather than fundamentals in the short term, but in the long run, the most successful companies with the best results rise to the top.

Adobe (NASDAQ: ADBE) stock has been slaughtered this year, falling more than 50%. Part of this is the result of the excessive tech valuations in 2021, part is the weakening economy, and now the acquisition of Figma has soured investors even more.

The voting machine spoke loud and clear; however, when it comes to high-quality companies, buying when everyone else is selling is often a profitable long-term strategy. 

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Source Fool.com