"HARD WORK, UNUSUALLY STRICT DISCIPLINE, AND A LONG-TERM INVESTMENT HORIZON": FIRST EDITION OF SETH KLARMAN'S MARGIN OF SAFETY IN ORIGINAL DUST JACKET
KLARMAN, Seth A. Margin of Safety. Risk-Averse Value Investing Strategies for the Thoughtful Investor. [New York]: HarperBusiness, (1991). Octavo, original half navy cloth, original dust jacket.
First edition, first printing, of this influential guide by Klarman—"a giant within investment circles"—outlining how to avoid the pitfalls of fad investing and become a value investor.
Klarman, whose pivotal Margin of Safety and other writings have been "coveted and followed by Wall Street… is a giant within investment circles. He is often compared to Warren Buffett, and Economist magazine once described him as 'The Oracle of Boston'" (New York Times). This highly influential work both identifies the pitfalls of traditional trend investing and offers a new path—value investing. Value investing is a strategy of investing in securities that are trading at a marked discount from their underlying value, almost guaranteeing a profit. While it requires more work and research than other forms of investment, Klarman's preferred investment method is also lower risk and potentially more profitable. First editions of Margin of Safety are extremely sought-after by investment professionals since going out of print. With previous owner embossed stamp.
A fine copy.