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."
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.
If you understood a business perfectly and the future of the business, you would need very little in the way of a margin of safety. So, the more vulnerable the business is, assuming you still want to invest in it, the larger margin of safety you'd need. If you're driving a truck across a bridge that says it holds 10,000 pounds and you've got a 9,800 pound vehicle, if the bridge is 6 inches above the crevice it covers, you may feel okay, but if it's over the Grand Canyon, you may feel you want a little larger margin of safety...
Even with a margin of safety in the investor's favor, an individual security may work out badly. For the margin guarantees only that he has a better chance for profit than for loss - not that loss is impossible. But as the number of such commitments is increased the more certain does it become that the aggregate of the profits will exceed the aggregate of the losses.
I was starting to recognize a corner I was driving myself into: that all writing could do was refer to things that had already been written. I'm making the margin, but the margin of a book that already exists. I was having this exhilaration at, but at the same time horror of this recognition that I'd driven myself into the world of only books. This is a world of the previously written, and maybe I don't have to add to it, maybe all I can do is measure it.
WIDE, the margin between carte blanche and the white page. Nevertheless it is not in the margin that you can find me, but in the yet whiter one that separates the word-strewn sheet from the transparent, the written page from the one to be written in the infinite space where the eye turns back to the eye, and the hand to the pen, where all we write is erased, even as you write it. For the book imperceptibly takes shape within the book we will never finish. There is my desert.
Although her disobedience is tragic, Eve's innocence is not all bad. Certainly, that innocfence leads her to make a poor choice - the very worst - but the fact that she makes a choice at all, the fact that she engages the Devil in a debate which could go either way, the fact that she acts without God breathing down her neck - all speak for her free will or, what amounts to the same thing, her margin for error. It is from this margin for error that freedom springs, because you can't be free to right unless you can be free to be wrong.
Robert Rowland Smith
In the lean approach, companies are taught that prices are set by the market and that one way to improve profit margin is to reduce costs. This thinking flies in the face of "cost plus" thinking, where we look first at our own costs and set prices based on our desired profit margin. The reality is that most companies whether manufacturers or hospitals, do not have market power to set prices as they wish.
There's that "margin of error" that you allow to exist in your mind, you want to give everything the benefit of the doubt, you want to look at another person and say "maybe we could be friends" and that's all well at first, but then you have to reach that point in your life, wherein you don't have time to live on the margins of error, and you have to say, "so what if there is a margin of error that exists? I don't think that this person and I could walk down the same path together, because she's like that, and I'm like this; I must relieve myself of fearing the error, the 'what could have been'." You know, sometimes we can be so afraid of the "what could have been" that we overlook the right here and now! And end up forsaking who we are and what makes us happy, and what we want and don't want! There is an error that takes place; when living too much for the "what could have been." There comes a time when you must give YOURSELF the benefit of the doubt! Know thyself. Color-in those margins of error with your favorite color; make them your own, make them work for you, let them be in your favor!
C. JoyBell C.
Something must be radically wrong with a culture and a civilisation when its youth begins to desert it. Youth is the natural time for revolt, for experiment, for a generous idealism that is eager for action. Any civilisation which has the wisdom of self-preservation will allow a certain margin of freedom for the expression of this youthful mood. But the plain, unpalatable fact is that in America today that margin of freedom has been reduced to the vanishing point. Rebellious youth is not wanted here. In our environment there is nothing to challenge our young men; there is no flexibility, no colour, no possibility for adventure, no chance to shape events more generously than is permitted under the rules of highly organised looting. All our institutional life combines for the common purpose of blackjacking our youth into the acceptance of the status quo; and not acceptance of it merely, but rather its glorification.
Harold Edmund Stearns
There must always be a fringe of the experimental in literature-poems bizarre in form and curious in content, stories that overreach for what has not hitherto been put in story form, criticism that mingles a search for new truth with bravado. We should neither scoff at this trial margin nor take it too seriously. Without it, literature becomes inert and complacent. But the everyday person's reading is not, ought not to be, in the margin. He asks for a less experimental diet, and his choice is sound. If authors and publishers would give him more heed they would do wisely. They are afraid of the swarming populace who clamor for vulgar sensation (and will pay only what it is worth), and they are afraid of petulant literati who insist upon sophisticated sensation (and desire complimentary copies). The stout middle class, as in politics and industry, has far less influence than its good sense and its good taste and its ready purse deserve.
Henry Seidel Canby