Reddit mentions of Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor

Read “Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor” by Seth Klarman. It’s only $1,000 on Amazon. https://www.amazon.com/Margin-Safety-Risk-Averse-Strategies-Thoughtful/dp/0887305105

One of the rarest books out there is "Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor" 1st Edition
by Seth A. Klarman. Will fetch you $1,000+ on Amazon and people WILL buy it at that price.

There's a pretty interesting story behind it. Klarman is a famous investor and he only sold a few thousand copies then ceased production. It's considered a "holy grail" for anyone into investing/trading.

• The Intelligent Investor - Benjamin Graham
  
  
• Security Analysis - Benjamin Graham
  
  
• The Interpretation of Financial Statements - Benjamin Graham
  
  
• Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports - Howard Schilit
  
  
• Applied Value Investing - Joseph Calandro
  
  
• Analysis for Financial Management - Robert Higgins
  
  
• Margin of Safety - Seth Klarman
  
  
• Common Stocks and Uncommon Profits and Other Writings - Philip Fisher
  
  
• One Up On Wall Street - Peter Lynch
  
  
• Beating The Street - Peter Lynch
  
  
• The Essays of Warren Buffett - Warren Buffett
  
  
• Snowball: Warren Buffett and The Business of Life - Alice Schroeder
  
  
• Buffett Beyond Value - Prem Jain
  
  
• Value Investing: From Graham to Buffett and Beyond - Bruce Greenwald
  
  
• You Can Be A Stock Market Genius - Joel Greenblatt
  
  
• The Little Book That Beats The Market - Joel Greenblatt
  
  
• The Big Secret for the Small Investor: A New Route to Long-Term Investment Success - Joel Greenblatt
  
  
• Reminiscences of a Stock Operator - Edwin Leferve
  
  
• Fooled By Randomness - Nassim Taleb
  
  
• The Black Swan - Nassim Taleb
  
  
• Poor Charlie's Almanack - Charlie Munger
  
  
• Rediscovered Benjamin Graham - Janet Lowe
  
  
• The Theory of Investment Value - John Burr Williams
  
  
• Seeking Wisdom: From Darwin to Munger - Peter Bevelin
  
  
• Security Analysis and Business Valuation on Wall Street - Jeffrey Hooke
  
  
• Value Investing: Tools and Techniques for Intelligent Investment - James Montier
  
  
• Investment Valuation: Tools and Techniques for Determining the Value of Any Asset - Aswath Damodaran
  
  
• The Dark Side of Valuation - Aswath Damodaran
  
  
• Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports - Thomas Ittelson
  
  
• Buyout - Rick Rickertsen
  
  
• Influence: The Psychology of Persuasion - Robert Cialdini
  
  
• Why Smart People Make Big Money Mistakes: Lessons from the New Science of Behavioral Economics - Gary Belsky
  
  
• The Warren Buffett Way - Robert Hagstrom
  
  
• The Most Important Thing - Howard Marks
  
  
• Competition Demystified - Bruce Greenwald
  
  
• Accounting For Value - Stephen Penman
  
  
• Distressed Debt Analysis - Stephen Moyer
  
  
• Bankruptcy Investing - Ben Branch
  
  
• The Vulture Investors - Hilary Rosenberg
  
  
• Creating Value Through Corporate Restructuring - Stuart Gilson
  
  
• Distress Investing - Martin J Whitman
  
  
• The Aggressive Conservative Investor - Martin J Whitman

Agreed, rich dad blows. It's a complete joke along with most of the parents' book recs.

Edit: OP, in the spirit of being constructive I'm going to link you to one of my favorite investing books. It's written by one of the best contemporary value investors, Seth Klarman. Klarman, through his investment organization--The Baupost Group, has returned upwards of 20% annually for years. His 1991 book, "Margin of Safety", sells on Amazon and the like for $1500+.

Link to the Margin of Safety PDF

For a book about mutual funds you can do no better than "The Bogleheads Guide to Investing"

> Yeah, that is why his book sells more than $1000 at ebay and Amazon !!!

Wait, seriously?

https://www.amazon.com/Margin-Safety-Risk-Averse-Strategies-Thoughtful/dp/0887305105

Yep, it's $1,190.54. Holy cow.

I bought a couple of these when I was just starting out.

Nowadays I keep one or two around as paper weights and used the rest just to wipe my ass.

The cheapest used copy is $794 :-0

Did people here snap up all the cheap copies after your post?

Investment professional here (well, a new one, I am an analyst)

Read this:

• Link 1
  
• Link 2
  
  
• Link 3 (No the price is not a typo, try to find at a library)
  
  Do this
  
  
• Start With a Fake Investing Account, I recommend investopedia's simulator. You are going to make mistakes, so why not learn from it early, when the cost is low.
  
• When you are comfortable, open a brokerage account like scottrade, etrade, IB, etc.
  
• Invest in companies you understand, and what I mean by that is you understand how the company is making money, and what is going to drive your investment in the future.
  
• Know your investment thesis: Will a company's margins expand due to a new acquistion? Will their revenue grow due to the number of new restaurants they plan on rolling out?
  
• If you are not willing to do all of this work, put your money in index funds or ETFs.
  
  Good luck.

Yes OP, this is an answer you are looking for. Read about value investing, another good book to read is Seth Klarman's The Margin of Safety. And if you don't know who Seth Klarman is you have to look it up.

I'm reading Margin of Safety right now, though it is extremely expensive. Was recommended to me by someone in another thread. It's about value investing.

Margin of Safety

Seriously this is like one of the best known investment books out there. It's up there with Intelligent investor, and Security Analysis...

Margin of Safety by Seth Klarman. The market has spoken and it's the best.

More seriously, I'd go with Security Analysis by Benjamin Graham and David Dodd. It's a little more dense compared to Intelligent Investor, but definitely digestible with an undergrad understanding of econ.

*Oh, and the Hull text is the derivatives bible.

[Fooling Some of the People All the Time] (http://www.amazon.com/Fooling-People-Complete-Updated-Epilogue/dp/0470481544) is a really good book on short selling.


[Quantitative Value] (http://www.amazon.com/Quantitative-Value-Web-Site-Practitioners/dp/1118328078) is a really good book as well.


If you can afford it, [Margin of Safety] (http://www.amazon.com/Margin-Safety-Risk-Averse-Strategies-Thoughtful/dp/0887305105/ref=sr_1_1?s=books&ie=UTF8&qid=1415645406&sr=1-1&keywords=margin+of+safety) is the holy grail of value investors.