30 ideas from margin of safety
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>? @6A 'B8C5 :I too believe that avoiding loss should be the primary goal of every investor. This does not mean that investors
should never incur the risk of any loss at all. Rather "don't lose money" means that over several years an
investment portfolio should not be exposed to appreciable loss of principal.
While no one wishes to incur losses, you couldn't prove it from an examination of the behavior of most investors
and speculators. The speculative urge that lies within most of us is strong; the prospect of a free lunch can be
compelling, especially when others have already seemingly partaken.
It can be hard to concentrate on potential losses while others are greedily reaching for gains and your broker is
on the phone offering shares in the latest "hot" initial public offering. Yet the avoidance of loss is the surest way
to ensure a profitable outcome.
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