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A margin of safety means paying a discount deep enough that being wrong about what a company is worth still leaves you whole.

Drawn from what Bill Ackman said

A private bookmark. Not a position, and never counted.

What Bill Ackman actually said

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  1. Bill Ackman

    Founder and chief executive of Pershing Square Capital Management

    You want to buy a company at a price that if you're wrong about what you think it's worth and it turns out to be worth 30% less, you paid a deep enough discount to your estimate that you're still okay. A big part of investing is not losing money.

Added to korrents 20 Feb 2024 · How quotes work · Something wrong? Tell us

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