According to @QCompounding, Chapter 20 of Benjamin Graham’s The Intelligent Investor on Margin of Safety is being shared for free today, spotlighting a core risk-management principle relevant to trading decisions and entry discipline (source: @QCompounding). Graham makes Margin of Safety the central concept of sound investing, urging investors to buy only when there is a clear discount to a conservatively estimated intrinsic value to protect against valuation errors and unforeseen shocks (source: Benjamin Graham, The Intelligent Investor, Chapter 20). He emphasizes practical safeguards—such as insisting on adequate earnings and asset coverage and maintaining diversification—to reduce drawdown risk and improve risk-adjusted outcomes, guidelines traders can adapt to position sizing and timing in volatile markets (source: Benjamin Graham, The Intelligent Investor, Chapter 20).