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There is a close logical connection between the concept of a safety margin and the principle of diversification.
Benjamin Graham
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Benjamin Graham
Age: 82 †
Born: 1894
Born: May 8
Died: 1976
Died: September 21
Economist
Financier
Investor
University Teacher
Writer
London
England
Principle
Connections
Diversification
Safety
Margin
Concepts
Margins
Close
Logical
Principles
Connection
Investing
Concept
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The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.
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I am more and more impressed with the possibilities of history's repeating itself on many different counts. You don't get very far in Wall Street with the simple, convenient conclusion that a given level of prices is not too high.
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