Reading List · Book
Margin of Safety
Seth Klarman argues that most investors are their own worst enemies, driven by institutional pressures and psychological biases to overpay for assets. He advocates absolute-return investing focused on avoiding loss rather than chasing gains, with detailed frameworks for analyzing distressed debt, liquidations, and complex securities. Out of print and legendary, the book sells for over $1,000 on secondary markets.
The Oxford Ledge takeaway
Out of print and trading at $1,000+ used. Klarman's Baupost-Group philosophy of value investing with a downside-first lens.
Level AdvancedFirst published 1991
Tagged advanced in the Ledge Reads catalog: written for readers comfortable with professional-level finance.
What it covers
- Risk Aversion
- Absolute Return
- Distressed Securities
- Baupost Group
- Loss Avoidance
- Institutional Constraints
- Complex Securities
- Contrarian
- Liquidation Analysis
- Seth Klarman
Where Oxford Ledge teaches these ideas
Concepts this book covers appear in these LEARN modules:
Find this book
ISBN-10: 0887305105