Dissecting The Margin of Safety
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Glennon Capital
This week Michael is talking about the Margin of Safety, following a very heated back-half of calendar 2016 in the small and mid-cap segments of the market.
When we look at the Margin of Safety we look at not paying too much for a business.
We do this by looking at these areas:
- Balance Sheet - assets and liabilities
- P&L - revenue and profits (multiples)
- Business Stability - what is affecting the long-term continuity of the business and it's profits?
3 topics
![Michael Glennon](https://assets.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbVVJIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--442000cef4ed0e2954b8323f33ea825c9555ed43/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--c306068f01ab83c3650795f1865f4e6da1f93433/Michael_Glennon_1000x1000.png)
Michael has over 17 years experience in financial markets and over 15 years experience as a portfolio manager and director of several boutique investment management firms. As one of Australia’s most experienced small cap fund managers, Michael was...
Expertise
No areas of expertise
![Michael Glennon](https://assets.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbVVJIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--442000cef4ed0e2954b8323f33ea825c9555ed43/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--c306068f01ab83c3650795f1865f4e6da1f93433/Michael_Glennon_1000x1000.png)
Michael has over 17 years experience in financial markets and over 15 years experience as a portfolio manager and director of several boutique investment management firms. As one of Australia’s most experienced small cap fund managers, Michael was...
Expertise
No areas of expertise