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2min chapter
Benchmark Part I
Acquired
Defining Margin of Safety
The margin of safety is the logical conclusion Of what to focus on if you admit that you just cannot predict the future with any precise accuracy. If there's a high Valuation relative to fundamentals you have a low margin of safety and if you have alow valuation Relative to fundamentals then there's ahigh margin of safety. Good old uh, you know uncle ben graham back in the day. He would probably define margin of safety on evaluation of if you are paying More money than the cash in the more than like half of the cash on hand at the company You probably got of a high margin ofSafety. Ah, right times.
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