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What is quotational loss in stock market?
In this instance "quotational" is a reference to a market price quote, not a mathematical function.  Staunch "value investors" like Graham, Dodd, Munger, Buffett et al. believe there is a material difference between what security is "worth" and what the current market mood quotes as its price.   You, the investor, perform your analysis then derive a value for a security. If there has been no material change to an aspect of the security you analyzed then there hasn't been a change in that security's value, even if there has been a decline in the price quoted by the market, that is a "quotational loss."