Klarman Tells Investors That COFINA Recovery Is Essential For Puerto Rico Success

At the beginning of October, it was reported that Seth Klarman's hedge fund Baupost, had acquired just under $1 billion of Puerto Rican debt (COFINA bonds -- municipal bonds issued by an entity created by the Commonwealth of Puerto Rico in 2006 to securitize future sales tax receipts), a revelation that attracted some interesting responses, which prompted a discussion of the topic in the recent Baupost Q3 Letter, unusual for the secretive hedge fund (in our opinion).

Saved Articles

Are you a smart investor? Join tens of thousands of sophisticated investor reading our authoritative free newsletter

* indicates required

Opt out of occasional 3rd party offers

Congrats! Are you a smart person? We have a limited time offer for sophisticated and loyal readers like yourself.

Sign up today and get three months free

Use coupon code VIP19 or click on the button below

Limited time offer only expires 8/31/2019 or next 30 now just 2 subscribers whichever comes first – please do not share this discount with others