Margin of safety

risk-averse value investing strategies for the thoughtful investor

249 pages

English language

Published Nov. 20, 1991 by HarperBusiness.

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The disciplined pursuit of bargains makes value investing very much a risk-averse approach. The greatest challenge for value investors is maintaining the required discipline. Being a value investor usually means standing apart from the crowd, challenging conventional wisdom, and opposing the prevailing investment winds. It can be a very lonely undertaking. A value investor may experience poor, even horrendous, performance compared with that of other investors or the market as a whole during prolonged periods of market overvaluation. Yet over the long run the value approach works so successfully that few, if any, advocates of the philosophy ever abandon it. - Author.

2 editions

Subjects

  • Investments
  • Stocks
  • Junk bonds