SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : INTEL TRADER
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: smolejv@gmx.net who wrote (3249)7/15/1998 7:14:00 AM
From: smolejv@gmx.net  Read Replies (1) of 11051
 
Who wrote this?

"... My standard procedure was to buy convertible bonds around par and to sell calls against them on the related common stock; or else - in a more elaborate variant - sell the common stock short and sell puts against our short position. "

Answer: Benny Grossbaum, aka Ben Graham. The big message, the AHA for me was, I understood finally, what was meant with the "reasonable margin of safety" or whatever eventually his approach was called (by W. Buffet and others). It's not the investment instrument, it's the investment per se that's risky or safe. Once you found the safe investment, you would be stupid not to maximize the payout. Besides making the investment delta-invariant (g).

DJ

PS:Quote from Benjamin Graham: The memoirs of the dean of Wall Street, McGraw Hill 1996, isbn 0-07-024269-0.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News