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Classic 03: Seth Klarman's Book - Margin of Safety

We Study Billionaires - The Investor’s Podcast Network

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Investing vs. Speculation in 'Margin of Safety'

This chapter explores the key concepts from Seth Klarman's 'Margin of Safety,' distinguishing between true investing and speculative behavior. The discussion also critiques the limitations of the Capital Asset Pricing Model (CAPM) and emphasizes the importance of understanding cash flow over common financial metrics.

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