安全边际
Margin of safety
Seth A. Klarman · 初版 1991 年
12人推荐
15位读者提及
18次提及
为什么值得读
- 帮助投资者树立本金安全与控制风险意识
- 清晰梳理价值投资流派的核心逻辑
对廉价投资品有节制的追求，使得价值投资在很大程度上成为一种规避风险的方法。价值投资者面临的最大挑战是保持应有的自律。成为一名价值投资者通常意味着特立独行、挑战传统观念、逆流行情而动。这可能是一段非常孤独的旅程。在市场长期高估的阶段，与其它投资者或整个市场相比，价值投资者的表现可能会逊色甚至相当惨烈。然而从长远来看，价值投资法的成效如此卓著
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……是长期持续获得高收益的最佳方法，而且极易上手）。以下是我向新手投资者推荐的书单：- 罗杰·洛温斯坦的《巴菲特传：一个美国资本家的成长》- 塞思·卡拉曼的《安全边际》（Margin of Safety）- 乔尔·格林布拉特的《股市稳赚》（The Little Book That Still Beats the Market）- 菲利普·费雪的《怎样选择成长股》（Common Stocks and Uncommon Profits）- 约翰·布鲁克斯的《商业冒险：华尔街的12个经典故事》……
…best approach for generating consistently high returns over time and very easy to learn). Here is what I point new investors to: - Buffett: The Making of an American Capitalist, by Roger Lowenstein. - Margin of Safety, by Seth Klarman - The Little Book That Still Beats the Market, by Joel Greenblatt - Common Stocks and Uncommon Profits, by Philip Fisher - Business Adventures: Twelve Classic Tales from the World…
想很好地领会价值投资理念的精髓，可以看看这几本书：本杰明·格雷厄姆的《聪明的投资者》，塞思·卡拉曼的《安全边际》。如果你想了解这群业绩顶尖的价值投资者，c2 提到的是巴菲特那篇名为《格雷厄姆-多德都市的超级投资者们》的文章。内容相当精彩……
For a good summary of the value investing philosophy checkout these books: Intelligent Investor by Benjamin Graham Margin of Safety by Seth Klarman If you want to know this group of high performing value investors, c2 is referring to Buffet's article called "The Superinvestors of Graham-and-Doddsville". It's a pretty fascinating…
塞思·卡拉曼著《安全边际：有思想投资者的避险价值投资策略》https://en.m.wikipedia.org/wiki/Margin_of_Safety_(book) https://www.amazon.com/Margin-Safety-Risk-Averse-Strategies-...
Margin of Safety: Risk-averse Value Investing Strategies for the Thoughtful Investor by Seth Klarman https://en.m.wikipedia.org/wiki/Margin_of_Safety_(book) https://www.amazon.com/Margin-Safety-Risk-Averse-Strategies-...
……关于投资维度的价值概念。约翰·布鲁克斯的《商业冒险：华尔街的12个经典故事》。乔尔·格林布拉特的《股市稳赚》。塞思·卡拉曼的《安全边际》。这本书极其出色，可惜已经绝版很久了。不过你或许能在别处搞到一本（网上经常有它转来转去的 PDF）。还有费雪的《怎样选择成长股》……
…concept of value as it pertains to investing. Business Adventures: Twelve Classic Tales from the World of Wall Street, by John Brooks. The Little Book That Still Beats the Market, by Joel Greenblatt. Margin of Safety, by Seth Klarman. This book is excellent, however it has been out of print for some time. You may be able to find a copy of it somewhere though (there have often been PDFs of it floating around). Common…
……Perler, Jeremy, Engelhart, Yoni 合著，McGraw-Hill 出版）* 绝对的经典（不过需要结合当下情况看）：《聪明的投资者：价值投资的权威著作》。（格雷厄姆）* 关于泛泛的投资理念：《安全边际》（塞思·卡拉曼）* 极好的估值入门书，但需要提醒的是，现代金融学以及像 WACC 这样的概念对你的投资策略未必有用：《价值评估：公司价值的衡量与管理》……
…Perler, Jeremy, Engelhart, Yoni, McGraw-Hill Education) * Absolute classic (but needs to be updated): The Intelligent Investor: The Definitive Book on Value Investing. (Graham) * On investing in general: Margin of Safety (Seth Klarman) * Great intro to valuation, with the caveat that modern finance and concepts like WACC may not necessarily be useful to your investing strategy: Valuation: Measuring and Managing the Value…
作为一名业余遵循《聪明的投资者》（以及卡拉曼的《安全边际》理念）并取得了不错年化收益的人，我和我的合伙人一直对现代科技股敬而远之。你说的关于公司经营业绩面临的风险，我们基本完全赞同……
As someone who followed Intelligent Investor (and Klarman's Margin of Safety concepts) as an amateur who made good annualized returns, my partner and I stayed away from the modern tech stocks. We basically agreed with what you say about the risk on the performance of a company…