Research Catalog

Title

Margin of safety : risk-averse value investing strategies for the thoughtful investor / Seth A. Klarman.

Author

Klarman, Seth A., 1957-

Publication

[New York, N.Y.] : HarperBusiness, [1991], ©1991.

Items in the Library & Off-site

Details

Description

xxi, 249 pages; 24 cm

Summary

The disciplined pursuit of bargains makes value investing very much a risk-averse approach. The greatest challenge for value investors is maintaining the required discipline. Being a value investor usually means standing apart from the crowd, challenging conventional wisdom, and opposing the prevailing investment winds. It can be a very lonely undertaking. A value investor may experience poor, even horrendous, performance compared with that of other investors or the market as a whole during prolonged periods of market overvaluation. Yet over the long run the value approach works so successfully that few, if any, advocates of the philosophy ever abandon it. - Author.

Subjects

• Junk bonds
• Stocks
• Value investing

Bibliography (note)

• Includes bibliographical references (page 241) and index.

Contents

Where most investors stumble. Speculators and unsuccessful investors -- The nature of Wall Street works against investors -- The institutional performance derby : the client is the loser -- Delusions of value : the myths and misconceptions of junk bonds in the 1980s -- A value-investment philosophy. Defining your investment goals -- Value investing : the importance of a margin of safety -- At the root of a value-investment philosophy -- The art of business valuation -- The value-investment process. Investment research : the challenge of finding attractive investments -- Areas of opportunity for value investors: catalysts, market inefficiencies, and institutional constraints -- Investing in thrift conversions -- Investing in financially distressed and bankrupt securities -- Portfolio management and trading -- Investment alternatives for the individual investor -- Glossary.

ISBN

• 9780887305108
• 0887305105

LCCN

91032049

OCLC

• ocm24378512
• 24378512
• SCSB-14054742

Owning Institutions

Columbia University Libraries