Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor written by Seth Klarman in 1991 is a title we own and all librarians should recognize. The book is notorious because it is long out of print and and sellers on Amazon and other websites are asking prices that range from $700 to $2,500 for used copies. Others have tried renting it out on eBay. Recently the book was featured in an article in Business Week ("The $700 Used Book" August 7, 2006). The article is worth reading because it explaines some of Klarman's theories. It says the book has taken on "iconic stature among value investors" and the book is "especially hot among those seeking jobs with value-oriented investment firms."
As for libraries, Business Week claims only 262 libraries worldwide own the title and it is one that is most claimed as lost. Our copy is in our Archive collection and students wanting to read it should make an appointment with Sandra Roff. Because of its condition, the book does not circulate nor can students photocopy pages or chapters.
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