The Value of Safety

The margin of safety concept either immediately appeals to you or doesn't. You can either buy Tesla at the ridiculously silly valuation that it is today, or you can't. It's just, you just physically can't do it because it's so incredibly overvalued. If value and margin of safety matter to you, you're constantly buying when others are selling. And then you're selling just as everybody is starting to buy, and the party's just getting started.

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