Margin of Safety" by Seth Klarman is a classic and highly sought-after book on value investing. Written by one of the most successful hedge fund managers of our time, the book emphasizes a risk-averse approach to investing, focusing on capital preservation and careful analysis. Klarman explains why traditional investment strategies often fail and presents a disciplined method centered on buying undervalued securities with a margin of safety — meaning investments that are priced well below their intrinsic value, thus reducing the downside risk. Unlike typical market speculation, Klarman advocates for rational, long-term thinking, patience, and skepticism of market trends. The book draws from real examples and the teachings of legendary investors like Benjamin Graham. Though out of print and notoriously expensive in the secondary market, it remains a must-read for serious investors who prioritize thoughtful decision-making over hype and short-term gains.