Research-intensive approach focusing on bargains, special situations, and small caps with margins of safety.
Published: 2025-12-26
Definition
An enterprising investor devotes time and skill to find securities more attractive than average—net-nets, special situations, or low-multiple quality names.
Graham's criteria
Willingness to research, insistence on margins of safety, and acceptance of more effort in exchange for better terms—not for speculation.
How to use
Keep diversification reasonable, avoid leverage, and size positions by safety and conviction.