Japan is in some ways the poster child for the developed world's current financial problems. In 1989 its huge equity and property bubbles burst and, rather than aggressively addressing the resulting problems, Japan’s government propped up its financial system, creating zombie banks, persistent deflation and the very high level of Japan government debt that we see today.

It's better to hang out with people better than you. Pick out associates whose behaviour is better than yours and you'll drift in that direction. - Warren Buffett

“Thinking creatively about the future, rather than unimaginatively extrapolating from the past is also the key to capturing the value of change.” Ed Lam, Somerset Capital, Portfolio Manager

The often-used phrase "margin of safety" is usually attributed to famous value investor and Warren Buffett’s teacher, Benjamin Graham. Its definition varies widely.