Margin of safety

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

This record preserves its author, date and source link. Open HN to read the full context.

… and Munger, are Martin Whitman, Seth Klarman, and Christopher Browne. Browne's letters and studies are available for free on the Tweedy, Browne website, Klarman's book (Margin of Safety) can be found as a pirated PDF, and Whitman's books are relatively inexpensive (and his letters to shareholders are free). Also, in addition to reading shareholder letters by Buffett and Munger, be sure to check out Lowenstein's Buffett biography (and The Snowball, though it's not nearly as good; Janet Lowe's Munger bio is a waste of paper).

Somehow, the article fails to mention Margin of Safety , an investment book less than twenty years old, which sells for about $1000: http://www.amazon.com/Margin-Safety-Risk-Averse-Strategies-T... Here's a piece on why it's so pricey: http://www.businessweek.com/magazine/content/06_32/b3996085.... And here's a recent update on Klarman, who is still doing very well. http://www.nytimes.com/2007/05/13/business/yourmoney/13klar.... In case $1000 is out of your price range, there's a Rapidshare of a scanned .pdf: http://rapidshare.com/files/126088249/Margin.of.Safety.by.Se...