Buffett says that growth and value are joined from the hip but still for the sake of differentiation we will assume that there are three types of investors the first who buys pure value stocks available at less then book value with hidden assets maybe a land bank or investments, the second  who buys for dividend, and finally the one who buys for growth

All these investing strategies have inbuilt downside protectors for instance a person who seeks growth gets defensive in protecting his capital by selling when the story goes bad and the increasing EPS y-o-y acts as his margin of safety, the guy who buys for dividend thinks that the yield will act as a floor and the one who buys stocks with hidden value presupposes that hidden value to be his margin of safety.