"The **main factor in determining the margin of safety is the price you pay**. If you overpay for a stock, the margin of safety will probably be non-existent. At a lower price, it could be small while at an even lower price, it could be large. Therefore, the best thing to do is to invest only in stocks that offer a large margin of safety." ([Location 3177](https://readwise.io/to_kindle?action=open&asin=B07CNFFJ9J&location=3177)) --- **Tags** -- [[quotes]], [[margin-of-safety]], [[valuations]], [[value-investing]] **Source** -- [[202506221723 - LN - Modern Value Investing]]