Seth Klarman’s Margin Of Safety: The Most Legendary Book In Personal Finance

If you regularly follow Berkshire Hathaway message boards, you may be aware that Seth Klarman has repeatedly been the dark horse candidate to replace Warren Buffett at Berkshire Hathaway when the time comes. He has a very unique style: he holds lots of cash, invests very conservatively (his brand of conservatism is not necessarily in buying the highest quality companies around, but buying companies that are so cheap that you can’t help but turn a profit). He has done things like post 22% returns while holding almost half of the portfolio in cash.

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He does not speak publicly all that much, although thanks to the wonders … Read the rest of this article!