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Strategies & Market Trends : Value Investing
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To: Michael Burry who wrote (4808)8/24/1998 6:04:00 PM
From: Axel Gunderson  Read Replies (2) of 78602
 
Hey Mike:

I want that target hit sooner rather than later.

I'm with you so far. :-)

Part of a margin of safety is knowing that the company will be there for a while

I'd go one step further - without this, there is no margin of safety. Because like it or not, we may have to hold it for a while.

and part of it is the potential to go up in a reasonable time frame.

We just have to be realistic as to what constitutes a reasonable time frame. Companies, especially small ones, can be underpriced for years. Our margin of safety really should allow for this.

Axel

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