Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor Seth A. Klarman
Publisher: HarperCollins

In 1991, Klarman authored Margin of Safety, Risk Averse Investing Strategies for the Thoughtful Investor, which since has become a value investing classic. Seth Klarman: Even the best investors judge themselves on the basis of return. Margin of Safety – Risk-Averse Value Investing Strategies for the Thoughtful Investor" is a name of a book written by Seth A. Prior to 2008, when very little premium was demanded for considerable risk, the example was given of pension fund trustees that Marks talked to at the height of the crisis in 2008 who refused to buy junk bonds, despite them offering once-in-a-lifetime exceptionally high returns, and a huge margin of safety! Klarman, a successful value investor. Seth Klarman is the founder and president of Baupost Group, a Boston based private investment partnership, and the author of Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor. When celebrated value investor Benjamin Graham set out his thinking on why and when to purchase stocks in his influential 1934 book Security Analysis, his insistence on having a Margin of Safety was a key factor. In his hugely popular book Margin of Safety, Risk Averse Investing Strategies for the Thoughtful Investor (now out of print and occasionally selling for $000s on Ebay ? A scanned version of “Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor” has been circulating around trading floors. It would be hard to evaluate yourself on risk, since risk cannot be measured. Next, he demonstrated how the risk premium graph (X-axis = risk, Y-axis = return) fluctuates, becoming too shallow a line when investors are complacent, e.g.