Margin of Safety by Seth A. Klarman Summary
Overview of Margin of Safety
Klarman's legendary 1991 value investing guide - once a "flop" with just 5,000 copies printed - now sells for $2,500 per copy. This cult classic outlines risk-averse strategies that sophisticated investors consider more accessible than Graham's own "Intelligent Investor."
Similar books to Margin of Safety
Sinta o livro através da voz do autor
Transforme conhecimento em insights envolventes e ricos em exemplos
Capture ideias-chave em um instante para aprendizado rápido
Aproveite o livro de uma forma divertida e envolvente
Principais Lições
When Everyone's Chasing Returns, Smart Money Protects Capital
Here's a curious paradox: a 1991 investment book that's never been reprinted sells for thousands of dollars on the secondhand market. Warren Buffett keeps it on his shelf. Hedge fund titans consider it required reading. What makes Seth Klarman's "Margin of Safety" so valuable isn't a secret formula for beating the market - it's something far more radical. It argues that your primary goal shouldn't be making money at all. It should be not losing it. In a world obsessed with returns, this focus on risk feels almost subversive. Yet it's precisely this counterintuitive wisdom that has allowed value investors to sleep soundly through market crashes that devastated everyone else. Warren Buffett's first rule of investing is "Don't lose money," and his second rule is "Never forget the first rule." Loss avoidance should be every investor's primary goal - not avoiding all risk, but protecting principal over time. The mathematics of compounding make this crucial: even modest returns compound dramatically over decades, while a single large loss can destroy years of gains.
Investment Versus Speculation and Understanding Mr. Market's Moods
Wall Street's Conflicts and the Institutional Performance Trap
Building Your Margin of Safety Through Disciplined Valuation
Finding Bargains in Liquidations, Spinoffs, and Overlooked Situations
The Psychology That Drives Success and Failure
Portfolio Management and the Discipline of Continuous Decision-Making
Modo Resumo Rápido - Leia ou ouça o resumo de Margin of Safety em 10 minutos
Divida as ideias-chave de Margin of Safety em pontos fáceis de entender para compreender como equipes inovadoras criam, colaboram e crescem.
Modo Cartão Flash - Top 11 Insights de Margin of Safety em Resumo
Destile Margin of Safety em dicas de memória rápidas que destacam os princípios-chave de franqueza, trabalho em equipe e resiliência criativa.
Modo Divertido - Lições de Margin of Safety Contadas em Histórias de 26 Min
Experimente Margin of Safety através de narrativas vívidas que transformam lições de inovação em momentos que você lembrará e aplicará.
Modo Personalizar - Leia ou ouça o resumo de Margin of Safety em 0 minutos
Pergunte qualquer coisa, escolha a voz e co-crie insights que realmente ressoem com você.
Criado por ex-alunos da Universidade de Columbia em San Francisco
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
Criado por ex-alunos da Universidade de Columbia em San Francisco
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
Obtenha o resumo de Margin of Safety como PDF ou EPUB gratuito. Imprima ou leia offline a qualquer momento.