The Value Investor

A margin of safety using liquidation value means buying a stock for less than what you'd recover if the business shut down today. For example, a stock trading at $100 with tangible assets worth $200 per share — discounted by 50–70% — gives you a liquidation value of $60–$100. That means limited downside, even in a worst-case scenario. It’s not exciting, but it’s how disciplined investors preserve capital and build long-term wealth.

From 1720’s South Sea Bubble to 1929, 2000 & 2008, markets repeat the same madness. Even Newton fell for it—proof greed beats reason every time.

The Buffett Retention Test: Evaluating Capital Allocation helps investors assess how effectively companies turn retained earnings into long-term shareholder value.

In-depth Krones AG (KRN) stock analysis using Buffett-style valuation. Explore ROE, upside potential, FCF payback, and competitive edge in packaging tech.