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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... Of all kind of authors there are none I despise more than compilers, who search every where for shreds of other men's works, which they join to their own, like so many pieces of green turf in a garden: they are not at all superior to compositors in a printing house, who range the types, which, collected together, make a book, towards which they contribute nothing but the labours of the hand. I would have original writers respected, and it seems to me a kind of profanation to take those pieces from the sanctuary in which they reside, and to expose them to a contempt they do not deserve. When a man hath nothing new to say, why does not he hold his tongue? What business have we with this double employment?