more money than sense, page-71

Well T.A. is choosing stocks by timing, Graham was against that. Time in rather than timing the market.
F.A. is widely considered to be choosing the companies with best prospects (qualitative analysis). This is not a way to beat the market, as Graham put it inasmuch as the future is known it is priced into stocks and bonds - therefore the future represents what isn't known.
This is the efficient market hypothesis. It's rediculous that mainstream economics assumes humans are rational calculating machines - sometimes they are and other times they are emotional.
That's just what Ben Graham thought and I agree in general. Of course the aim is to climb the mountain, talk to the guru then return to the world your own specific way - I have some minor points where I think this guru was wrong.
I would be suffering from a lack of ambition if I didn't think I could better his record of 20% compounding per annum over the long term. Not just for a few lucky years.
A value analyst as Graham saw it is very different to a fundamental analyst and opposite to a technical analyst. I am closer to a value analyst.