Understanding Margin of Safety

Seth Klarman's Margin of Safety is a classic of financial literature. Written in the 90s, the book went on to become a best-seller only to go out of print years after its launch.
But why do second-hand versions of this value investing bible currently fetch more than $ 1000,00 (yes, a thousand dollars), and attract rich readers who fight for the hard-to-find copies?
In this guide, you'll learn Seth Klarman's value investing guidelines that have helped him become one of the world's finest investors, managing more than $ 10 billion dollars for himself and his clients.

From the Wikipedia:

Seth Klarman (born 1957) is an American billionaire who founded the Baupost Group, a Boston-based private investment partnership, and the author of a book on value investing titled Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor.

Before founding Baupost, Klarman worked for Max Heine and Michael Price of the Mutual Shares fund (now a part of Franklin Templeton Investments). He founded the Baupost Group in 1982, which managed USD 22 Billion as of 2010. Despite his unconventional strategies, he has consistently achieved high returns. He is a very conservative investor, and often holds a significant amount of cash in his investment portfolios, sometimes in excess of 50% of the total. He often makes unusual investments, buying unpopular assets while they are undervalued, using complex derivatives, and buying put options. Klarman typically keeps a low profile, rarely speaking in public or granting interviews. However, in 2006, he spoke pessimistically about the stock market and warned of future inflation. He is sometimes referred to as "the Warren Buffett of his generation."

In 1991, Klarman authored Margin of Safety, Risk Averse Investing Strategies for the Thoughtful Investor, which since has become a value investing classic. Now out of print, Margin of Safety has sold on Amazon for $1,200 and eBay for $2,000.

In 2014 Forbes listed Seth Klarman as one of the 25 Highest-Earning hedge fund managers in 2013. His 2013 total earnings was $350 millions ranks him the 20th among the 25 top earning hedge fund managers.