&#34;A margin of safety doesn't mean being conservative. Being conservative is to avoid certain levels of risk, while a margin of safety increases the likelihood of success by improving the probability of survival. The magic of it is that the larger your margin of safety, the more likely you are to achieve a satisfactory outcome, and the less effort you need to exert.&#34;My father often says I'm too conservative to make a fortune, and my reply is always: if this way of thinking prevents me from making a fortune, then so be it (making a fortune requires the right timing, location, and people—it's hellishly difficult, I can't even imagine it 🤔). Seeing this page today, I know I'm not conservative; I'm just pursuing a margin of safety. I'm just pursuing something that allows me to happily accept different outcomes.

和时间做朋友

In September, the school season begins, and students are about to carry their backpacks to school, immersing themselves in the sea of books.Although everyone has been away from the classroom for many years, turning to navigate the stock market, the old saying goes, "Learning is endless." Reading and studying are probably lifelong compulsory courses for everyone.Join the # Longbridge Book Club topic, share the finance-related book that has had the most profound impact on your investment, write your reading notes, and discuss how this book has influenced your investment decisions.Activity rewards: Quality discussion reward of 50 yuan per entry.Activity period: August 31 - September 10.Content requirements: Only discussions are solicited, with a word count of more than 100 words; the content must be related to books and investment, focusing on describing the book's content, reading notes, and its impact on your investment methods and styles, and @ a Longbridge friend you most want to recommend this book to.The final interpretation of the activity belongs to Longbridge.

In September, the school season begins, and students are about to carry their backpacks to school, immersing themselves in the sea of books. Although everyone has been away from the classroom for many years, turning to navigate the stock market, the old saying goes, "Learning is endless." Reading and studying are probably lifelong compulsory courses for everyone. Join the # Longbridge Book Club topic, share the finance-related book that has had the most profound impact on your investment, write your reading notes, and discuss how this book has influenced your investment decisions. Activity rewards: Quality discussion reward of 50 yuan per entry. Activity period: August 31 - September 10. Content requirements: Only discussions are solicited, with a word count of more than 100 words; the content must be related to books and investment, focusing on describing the book's content, reading notes, and its impact on your investment methods and styles, and @ a Longbridge friend you most want to recommend this book to. The final interpretation of the activity belongs to Longbridge.

Longbridge Book Club

每天读书50页

Take a look at &#34;The Psychology of Money&#34; and give yourself a &#34;mental massage&#34; 🤔#Read more, whether the market is up or down#

👏我是一个长期主义者
1️⃣宁愿错过，也不追涨
2⃣️非大跌，不重仓
3⃣️没有慧根，就要会跟
✈️生活中很多事情远比股票更值得花时间

Jason4HK

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