"However beautiful the strategy, you should occasionally look at the results." - Winston Churchill
Get Real, Margin Of Safety - Part 1
Let look at the recent Noble trade:
Round 10: ROC 6.5%, 20 days, B $3.07 S $3.29
I bought back Noble at $3.04 on Friday for Round 11 and this immediate position has a real margin of safety of 6.5% and not an imaginary number in the investor's mind.
Do you know how to play the game of real margin of safety?
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