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July 31, 2006

 

You've got to spend money to make money

What happens when people with a lot of money want to get their hands on a book that they think will make them more money, but that book is out of print and hard to find? That book gets very expensive.

A BusinessWeek article profiles Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor by hedge fund manager Seth Klarman. The book was largely ignored when it was first published in 1991, but it Klarman's ideas have come back into vogue and suddenly everyone on Wall Street wants to read the book, but copies are almost impossible to come by. As a result, the cheapest copy of the book on Amazon (as of this writing) is going for $1750. Not a bad investment if you bought the book when it first came out. (via)

- C. Max Magee @ 6:36 PM ~ comments: 0 ~ Links to this post

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