Seth Klarman: Investors Can No Longer Rely On Mean Reversion – ValueWalk Premium
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Seth Klarman: Investors Can No Longer Rely On Mean Reversion

"For most of the last century," Seth Klarman noted in his second-quarter letter to Baupost's investors, "a reasonable approach to assessing a company's future prospects was to expect mean reversion."

He went on to explain that fluctuations in business performance were largely cyclical, and investors could profit from this buying low and selling high.

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