Author and investing legend Seth Klarman of the Baupost Group said, "The strategy of investing in securities trading at an appreciable discount from underlying value has a long history of delivering excellent investment results with very limited downside risk."
Martin Whitman of Third Avenue Management said this strategy "is probably how most fortunes have been made for strictly passive investors."
Benjamin Graham, author of The Intelligent Investor, said, "A strong-minded approach to investment, firmly based on the margin-of-safety principle, can yield handsome rewards."
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Joy of Cooking
by Irma S. Rombauer, Marion Rombauer Becker, Ethan Becker