Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety.
– Benjamin Graham, The Intelligent Investor
I am an individual investor based in Cincinnati. After graduating college and entering the corporate finance world in the late 1990s, I kept reading about “target prices” issued by Wall Street analysts which seemed absurdly high. Even though I had studied Finance in college and knew all about Efficient Market Theory, etc I wanted to know how do I set a realistic target price. This led me to discover the teachings of Buffett, Graham, Klarman, Lynch, Burry, and other great investors. What each of these investors have in common is they determine a value for a business and buy when the price offered by the market is less than the value. This provides for The Margin of Safety. The “MoS” in The MoS Investor stands for Margin of Safety. Those three words are the guiding point for my philosophy of investing.
My goal for this site is to help myself and my readers to become better investors by uncovering and analyzing various stocks. We’ll cover search strategy, How to Value Businesses, and How To Think About Market Prices. We’ll look at all types of stocks- “growth”, “value”, small caps to mega caps. Wherever we can find a Margin of Safety, we’ll look there.
From time to time we will also look at Special Situations. These are corporate actions that will generate a return in a relatively short time period. These can be found through mergers, spin-offs, going private transactions, recapitalizations, or other corporate events.
This site is a continuous work in progress. If you have questions, comments, or want to discuss investments, click on the Contact page to get in touch.