Hedge fund manager Seth Klarman's classic investment book "Margin of Safety" is being sold illegally on Amazon’s e-book platform.
On Tuesday Klarman's firm, Baupost, said the book listing on Amazon was not legitimate.
"The Kindle version of Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor on Amazon is an unauthorized version being sold in violation of its registered copyright, which is owned by Seth Klarman," a Baupost spokesperson said in an emailed statement. "Mr. Klarman has not authorized republication of Margin of Safety, electronically or in any other format. Our legal department is taking and will continue to take appropriate action with respect to this matter."
Other media outlets reported the book’s rise on the internet giant's Kindle best-seller charts since it was listed on Friday. The disputed e-book version sells for $9.99 on the Amazon listing, reaching the No. 37 best-selling nonfiction book on the company's Kindle store as of Tuesday morning.
The listing was taken down sometime midday Tuesday.
The hedge fund manager is revered in value-investing circles for his disciplined investing philosophy and often draws comparisons to Warren Buffett. Used copies of his investing book "Margin of Safety" still sell for nearly $500 online.
The firm generated a mid-single-digit return in 2017, according to an investor letter. Baupost had $30 billion of assets under management as of March of last year.
When asked for comment an Amazon spokesperson sent this statement:
“This book has been removed. Amazon respects the intellectual property of others and takes copyright violations very seriously.”