One of my favorite books that I have learned a great deal from in my investing journey is Seth Klarman's book "Margin of Safety: Risk Averse Value Investing Strategies For Thoughtful Investors." As the title indicates, the book drills in the idea of investing in companies with a margin of safety because doing so will give the lowest risk in losing capital. Seth doesn't jump on investment fad bandwagons but waits with a large cash position for prices to come down to what he is comfortable paying and is aware that "many of the forces that cause securities prices to depart from underlying value are temporary."
With Seth Klarman's consistent absolute returns year in and year out hovering near 20%...
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