Interview with Value Investor Joel Greenblatt

In Bruce’s example of ATSN, the did not have the pile of cash as a margin of safety but he could bet a $1 to make $5 or $6 or $7. It was a good risk/reward bet. You would take that risk/reward bet but adjust your position size based on your ability to take the hit on that. In the first bet, in MIPS, was a margin of safety bet. ................
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