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:
[klarman]