Subs: “Margin of Safety” Notes to Chapter 4

• Posted by ToddSullivan
• on October 2nd, 2009

Chapter 4 is titled, “Delusions of Value: The Myths and Misconceptions of Junk Bonds in the 1980s”. In reading this chapter, the thought came to me that one could just as easily substitute “Housing in the 2000′s” for the actual title as the scenario unfolded the same. The true irony is that the one who got taken in the 1980, banks, were the ones ones who in the 2000′s did it to themselves.

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