Getty Images/ Scott Olson
Seth Klarman, president and CEO of the The Baupost Group
- "Margin of Safety," the out-of-print book written by hedge fund billionaire Seth Klarman, is now available on Amazon Kindle for $9.99.
- Hard copies sell for over $1,000.
- The book is considered a bible of value investing.
One of the most prized books on Wall Street, which usually costs thousands of dollars, is finally available to the masses.
An Amazon Kindle copy of "Margin of Safety," written by the billionaire value investor and hedge fund manager Seth Klarman, is now selling for $9.99. The book, which is out of print, became a collector's item on Wall Street because of its rarity and price. As of Tuesday morning, it was free through a Kindle Unlimited subscription, $9.99 via regular Kindle, and as much as $2,500 for a new hardcover copy.
Bloomberg earlier reported the Kindle copy became available on Amazon on July 6. It quickly rose to fourth place on the Business & Money charts.
The book, first published in 1991, is considered a bible for value investors who include the likes of Klarman and Berkshire Hathaway CEO Warren Buffett. It explains the philosophy behind identifying undervalued stocks, and includes Klarman's own investing failures along the way.
Klarman is founder of The Baupost Group, a $30 billion hedge fund known for its secrecy. The fund's website has very little information and its client letters rarely get circulated widely. Klarman's most recent year-end letter, obtained by Business Insider in January, warned that the global political climate posed a serious threat to democracy and international markets.