Margin of Safety as the Central Concept of Investment (MG Book Club Chapter 20)
This is the twentieth discussion of the ModernGraham Book Club’s reading of The Intelligent Investor by Benjamin Graham. This week we will discuss the twentieth chapter, which is titled “‘Margin of Safety’ as the Central Concept of Investment.” Even if you don’t have the book I think you will find our discussions to be very useful in your own understanding of value investing, and you can still bring a lot to the discussion from your own experiences as an investor.