Dissecting The Margin of Safety

Michael Glennon

Glennon Capital

This week Michael is talking about the Margin of Safety, following a very heated back-half of calendar 2016 in the small and mid-cap segments of the market.
When we look at the Margin of Safety we look at not paying too much for a business.


We do this by looking at these areas:

  • Balance Sheet - assets and liabilities
  • P&L - revenue and profits (multiples)
  • Business Stability - what is affecting the long-term continuity of the business and it's profits?


Michael Glennon
Founder & Portfolio Manager
Glennon Capital

Michael has over 17 years experience in financial markets and over 15 years experience as a portfolio manager and director of several boutique investment management firms. As one of Australia’s most experienced small cap fund managers, Michael was...


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