{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Daily Discipline from Project MNDST","title":"Episode 95: Margin of Safety","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/af2af52d\"></iframe>","width":"100%","height":180,"duration":176,"description":"Today's episode teaches Benjamin Graham's margin of safety — the principle that the gap between what something is worth and what you pay for it isn't just upside, it's protection against being wrong. Warren Buffett called it the three most important words in investing, but the idea works wherever forecasts meet reality: engineering, hiring, any decision made under uncertainty. The one action today is simple: take a decision you're working through and ask whether it still holds if your core assumption is twenty percent off.","thumbnail_url":"https://img.transistorcdn.com/ogPqjRZNvFJF_SswC8Bu3gIIzaBBSY8AM_Kmoq8a8uA/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8yZjQy/Nzk5NDVjNDZmMGU5/MTlkNDMwY2VhN2Q5/Y2FjYS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}