Margin of Safety (Seth Klarman) — Full Text

TL;DR — Seth Klarman’s out-of-print book on risk-averse value investing.

The 1991 HarperBusiness book in full: where most investors stumble, a value-investment philosophy, and the value-investment process. It has been out of print for decades, which is why copies circulate as PDFs.

How much weight it carries: A complete book by a practising investor with a long public record. It is an argument and a method, not a study.

257 pages. A copy is archived locally against link rot; the header links the original source.