value

An academic-style note on the margin of safety as a valuation principle in long-term value investing. Test The concept of margin of safety is one of the central principles of value investing and is most commonly associated with Benjamin Graham. In its basic form, the idea is straightforward: capital should

An academic-style overview of the economic moat as a core principle of long-term business analysis. The term economic moat refers to a durable competitive advantage that allows a company to sustain above-average returns on capital over an extended period. The metaphor was popularized above all by Warren Buffett, who borrowed