Seth Klarman's "Margin of Safety"
For those in the know, this out-of-print tome by the legedary value investor and founder of Baupost Capital, the 13th largest hedge fund in the world in 2009, is as enigmatic as it is coveted. Impossible to find, new copies of the book go for $1750 (used for $638), making it “one of the most stolen book across libraries” - and now it’s yours. I’ll be reading it over the next week or so to see what all the fuss is about, taking into account that it’s quite dated. If anything, you can now brag to your investor buddies “oh yeah, I owned that - it’s just OK - I made more off of selling the book than his wisdom.” Somehow, given his stellar returns over the past 20 years, there’s gotta be some gems in there. Given the dearth of availability (and the fact that he’s Scrooge McDuck rich), I don’t think he’ll mind some digital shrinkage.
