Baupost Q2 Letter

Baupost’s Four Pillars Of Investing Success

In 2012, Baupost, Seth Klarman's value-focused hedge fund turned 30. To celebrate, the seasoned value investor devoted around half of his year-end letter to investors dissecting and analyzing the firm's history, reflecting on the bad and good times since inception, and the qualities that have helped Baupost survive and beat the market while other hedge funds have struggled.

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