"Charlie and I can sleep soundly because we only buy when the price is far below our conservative estimate of value. This margin of safety is our protection against unknown and unknowable risks.
"No matter how much we like a business, how strong its moat is, or how honest its management is, as long as the price does not provide that buffer, we will give up. There has never been a shortage of attractive good companies in the world, but truly attractive prices are rare."
—Warren Buffett
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"Charlie and I can sleep soundly because we only buy when the price is far below our conservative estimate of value. This margin of safety is our protection against unknown and unknowable risks.
"No matter how much we like a business, how strong its moat is, or how honest its management is, as long as the price does not provide that buffer, we will give up. There has never been a shortage of attractive good companies in the world, but truly attractive prices are rare."
—Warren Buffett