Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor by Seth Klarman – it’s a mouthful, but if you ever stumble across a copy of this 1991 book – snatch it up immediately. Seems to be a nice market for it right now, with copies going for over $1000.00 on eBay in recent weeks.
We were first alerted by The Auction Rebel, which pointed to a post by Inside Collecting, which in turn was a reference to the following link to the Business week article. The article is from last August, but the action seems to still be continuing on eBay.
AUGUST 7, 2006
“At least with Lee and Salinger, there’s no problem finding their works. Not so for the sole book written by hedge fund manager Seth Klarman. His 1991 work, Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor, came and went without much notice at the time and is long out of print. Klarman holds the copyright but has never revised or even reprinted it.
Still, over the past few years this work has taken on iconic stature among value investors. Originally listed at $25, the title trades for top prices on the used-book market. About a half-dozen copies are for sale online: The best deal is $700 from a seller at Amazon.com (AMZN ). Another vendor offers it for nearly $2,500.”