Value investing1991
Margin of Safety
Seth Klarman
Presents a conservative value investing mindset focused on permanent capital loss, buying below value, and discipline in euphoric markets.
Who should read it
Beginners building a systematic foundation.
Experienced investors reviewing their process.
Readers willing to write and apply, not only seek inspiration.
Do not copy the advice mechanically when your products, legal setting, or time horizon differs from the book's context.