"The market is a pendulum that forever swings between unsustainable optimism and unjustified pessimism. The intelligent investor is a realist who sells to optimists and buys from pessimists."
- & Benjamin Graham, 1894 – 1976, American economist, professor and investor; known as the "father of value investing"
Meeting The Challenges of A Low Yield Environment
From the start, the project looked impossible. Many engineering and construction experts said it couldn't be built. The structure would need to span more than 6,700 feet across one of the most unforgiving stretches of water in the world. It would be broadside to ferocious winds and would often be surrounded by blinding fog. It would also be located at the intersection of two of the most dangerous fault lines in the country and therefore needed to be strong enough to withstand a major earthquake. It was a daunting challenge.
Yet on April 19, 1937, 'the bridge that couldn't be built' was completed and officially opened to the public on May 27, 1937. Painted a bright 'International Orange' and spanning almost two miles across the narrow strait, the iconic Golden Gate Bridge was the longest and tallest single-span suspension bridge in the world, a position it retained for more than 25 years. More than eight decades later, it still has the second longest main span (distance between the towers) of any suspension bridge in the United States. The American Society of Civil Engineers named it one of the 'Seven Wonders of the Modern World' and it remains one of the most recognizable architectural structures in the world to this day.