TIP737: Margin Of Safety by Seth Klarman w/ Kyle Grieve
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You're listening to TIP. Since 1982, Seth Clarman has soundly defeated the SP 500 by a wide margin. His fund, the Bow Post Group, has achieved annualized returns of 15% during that period compared to just 11% for the S P 500. Now. What is Clarman's secret?
A risk-averse, value driven philosophy which follows the timeless principles of Benjamin Graham's central tenant. the margin of safety. In 1991, Clarman published a book. Margin of safety, which quickly became a cult classic in the investing world. The book reveals not only how to succeed,
But also how to fail. We'll cover why most investors speculate instead of invest. and how that's a dangerous game to play. We'll examine why chasing returns rather than avoiding losses can lead to lower compounded rates of return. and the risk of never even reaching the finish line.
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