The price that investors should be willing to pay for stocks must also be finite

Graham's answers, as always, are rooted in logic and common sense. The
value of any investment is, and always must be, a function of the price
you pay for it. By the late 1990s, inflation was withering away,
corporate profits appeared to be booming, and most of the world was at
peace. But that did not mean—nor could it ever mean— that stocks were
worth buying at any price. Since the profits that companies can earn are
finite, the price that investors should be willing to pay for stocks
must also be finite.

The price that investors should be willing to pay for stocks must also be finite