A Quote by Tom Robbins
The principal difference between an adventurer and a suicide is that the adventurer leaves himself a margin of escape (the narrower the margin the greater the adventure)
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The principal difference between an adventurer and a suicide is that the adventurer leaves himself a margin of escape (the narrower the margin the greater the adventure), a margin whose width and length may be determined by unknown factors but whose navigation is determined by the measure of the adventurer's nerve and wits. It is exhilarating to live by one's nerves or toward the summit of one's wits.
I would describe myself as a "budding adventurer." I've transitioned away from being a straight-up backpacker, but I think I need another trip or two to get the adventurer degree.
By a 2-1 margin, voters believe that Donald Trump would change business as usual in Washington, but by almost as large a margin, they believe that Hillary Clinton would be better in a crisis and less of a decisive margin she cares about people like them.
Edge also implies what Ben Graham....called a margin of safety. You have a margin of safety when you buy an asset at a price that is substantially less than its value. As Graham noted, the margin of safety 'is available for absorbing the effect of miscalculations or worse than average luck.' ...Graham expands, "The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher price, nonexistent at some still higher price."
As he mused about these things, he realized that he had to choose between thinking of himself as the poor victim of a thief and as an adventurer in quest of his treasure.
As an entrepreneur, you've got to protect against the company going bust. And as an adventurer, you've got to protect against losing your life. It's even more important as an adventurer to get it right.
I generally disagree with most of the very high margin opportunities. Why? Because it's a business strategy tradeoff: the lower the margin you take, the faster you grow.
Being very rich as far as I am concerned is having a margin. The margin is being able to give.
High leverage is unsafe, not just for a company but the entire economy... LBOs are reducing the safety. Management loses the power to do many things. It has no margin for error and less margin for additional risk.
There is a bit of a problem with the match between derivative securities markets and the primary markets. We have long ago instituted principles, essentially high margin requirements, to prevent certain instabilities in the stock market, and I think they're basically correct. The trouble is that there's a linkage, let's say, between something like the stock market and the index futures markets, and the fact that the margin requirements are very different, for example, played some role in the October '87 crash.
As much as you love to finish games and all that kind of stuff, at the same time as a starting pitcher you hate to come out of a game where your closer has no margin for error, ... So at least with one guy on, Braden's got a little margin to make a mistake.
With uncertainty in one scale, courage and self-confidence should be thrown into the other to correct the balance. The greater they are, the greater the margin that can be left for accidents.
The difference between the price we pay for a stock and its liquidation value gives us a margin of safety. This kind of investing is one of the most effective ways of achieving good long term results.
You can choose between being a victim of destiny or an adventurer who is fighting for something important.
To have a true investment, there must be a true margin of safety. And a true margin of safety is one that can be demonstrated by figures, by persuasive reasoning, and by reference to a body of actual experience.
As a whole, [changing] is deflation force that is being underestimated. Whether each person thinks of it in the context of the word deflation ... what they think of it is, "Hard to hold my margin. I'm under margin pressure. I'm under sales pressure. I'm under cost pressure."
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