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Margin of Safety

August 22, 2026 · Aditya Gupta

Investing

Margin of safety is Benjamin Graham's value investing principle — buy securities significantly below their intrinsic value to leave room for analytical errors and unforeseen events. If you estimate a stock is worth $100 and require a 30% margin of safety, you'd only buy at $70 or below. The discount provides cushion against being wrong about future cash flows, competitive position, or macro factors. Margin of safety doesn't guarantee profits but improves the probability and magnitude. Different investors use different margins (10-50%) based on certainty levels. The concept applies beyond stocks: real estate, bonds, even career decisions.

Investing

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