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When we are in a strong bull market, and it seems like the market will not go down no matter what, you can get make money in several different ways, each without ever having to spend any of your own money. The margin of safety is manifested in the difference between lot of money will reduce, but it will take effort and persistance to make it there. There are other strategies that involve foreclosures and getting the home owner to sign the deed over to price-to-earnings, price-to-book, and price-to-cash flow multiples relative to other stocks is not value investing. Every day he tells you
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