“Margin of Safety” by Seth Klarman

[fenders53]

Thanks for re-posting. I've never read it but I will start tonight. I haven't been on the forum for years like most but I know I have read Kerim believes your performance is cooked in when you buy. I believe that too. Just riding out a bad buy forever often doesn't fix the deep hole you dug on entry. I have a couple personal experiences that demonstrate that. 15 years didn't completely fix a very bad entry into MSFT, CSCO and PFE. Stocks that are still revered. You can't just pay price, and think time will cure all.