Margin of Safety - Seth Klarman

In 1991 Seth Klarman, a very well known and respected Value Investor, published a book "Margin of Saftey" it is out of print and I imagine a classic. I imagine that its a classic as you can buy only it costs more than a thousand pounds. With my rough grip on exchange rates I make it about two thousand dollars.

In here is an interesting conundrum. I generally hold that books are an interesting parallel to value investment philosophy. Why? Well a £100 stake in any company will cost you £100. The cost of a bad book is the same as the cost of a good book - all books are about £30 - well not quite but something like that.

Seeing the price on Amazon I looked for a Kindle edition, you would sort of get the Kindle free if it was available. But no it is not - what I did find was that there is a web site that has "made available" the margin of saftey as a PDF. There is a link to his page here. This is sort of the back to basics where, as a child, my friends and I used to record songs off the radio onto tape as tapes were affordable and the radio was, well, free.