Hedge Funds Continue To Profit Off Crisis BetsRupert Hargreaves
At ValueWalk we’ve reported several times in the past on Baupost’s sizable position in the distressed debt of Lehman Brothers. In 2013 the Lehman positions accounted for a massive 23% of the fund’s net asset value.
So far, the Lehman positions have produced a sizable return for Baupost, which is run by the well-respected value investor Seth Klarman. In Baupost’s fourth quarter 2013 letter to clients, partner Jim Mooney wrote:
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