Margin of Safety (1991) – Seth Klarman

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Summary

• Description Investors are all too often lured by the prospect of instant millions and fall prey to the many fads of Wall Street.

• The myriad approaches they adopt offer little or no real prospect for long-term success and invariably run the risk of considerable economic loss – they resemble speculation or outright gambling, not a coherent investment program.

• But value investing – the strategy of investing in securities trading at an appreciable discount from underlying value – has a long history – has a long history of delivering excellent investment results with limited downside risk.

• Taking its title from Benjamin Graham’s often-repeated admonition to invest always with a margin of safety, Klarman’s ‘Margin of Safety’ explains the philosophy of value investing, and perhaps more importantly, the logic behind it, demonstrating why it succeeds while other approaches fail.

• The blueprint that Klarman offers, if carefully followed, offers the investor the strong possibility of investment succe Get Margin of Safety (1991) - Seth Klarman , Only Price $79 Tag: Margin of Safety (1991) - Seth Klarman Review.