Invest Like Graham With This Infrastructure Stock

Editor's note: This was originally published on RealMoney. It is being republished as a bonus for TheStreet.com readers.

These daily ranges in the market are enough to cause the most ADD-afflicted among us to blanch at the constant changes. The symbols flash across the screen in red and green like the most manic video game ever invented. At times it looks like a Christmas tree with those fast-blinking bulbs that my kids always want me to choose over my more staid selection of white lights.

It looks like it is going to take the stock market some time to find a level it is comfortable with, and until then, volatility is going to be the word of the day. Several of the smartest guys in the business have been hit hard by the current gyrations, with several knocked out of the game; my focus right now is on not joining that august list.

At times like this I try to focus on market history and the basics of investing. I find myself reading the old books and old stories to reinforce my thoughts and actions. Recently I have been reading the new Warren Buffett book, and the recollections and stories about Benjamin Graham sent me back to cluttered bookshelves to reread the thoughts of the Dean of Wall Street. Naturally I have several copies of Security Analysis lying around -- you can't own just one edition! -- and The Intelligent Investor. ...