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Exactly, Buffett's whole investment philosophy revolves around margin of safety. What's the margin of safety in a fast growing speculative space such as tech? Z
by c2 16y ago
Exactly, Buffett's whole investment philosophy revolves around margin of safety. What's the margin of safety in a fast growing speculative space such as tech? Zero.
Not to say that you can't pick winners, but it is wholly different from buying a controlling interest in a company which has the potential to reap high profits with tighter management (see, Coke, Wrigleys, Wendy's, Railroads, etc).