Term

margin of safety

a cushion of money, time, and energy for when things don't go according to plan

The Black Swan, Nassim Nicholas Taleb

Explained in

• The Black Swan, Nassim Nicholas Taleb
• The Intelligent Investor, Benjamin Graham

  the gap between a thing's reasonable worth and the low price you actually paid for it; your cushion in case you're wrong

• The Psychology of Money, Morgan Housel

  a cushion of money and time set aside in case things don't go according to plan

All terms