Seth Klarman: Don’t Underestimate The Power Of Uncertainty

Since founding his investment partnership in 1983, Seth Klarman has offered a stream of wise and timeless commentary on markets and the craft of investing. His commentary from periods of market volatility is incredibly insightful. Klarman’s letters to clients around the time of the dot-com bubble and financial crisis in 2008/09 contained timeless insights on investing. In a letter to Baupost’s investors dated February 2009. Klarman outlined the power that investors can derive from uncertainty. The Value of Not Being Sure Titled “The Value of Not Being Sure,” the letter explained how the hedge fund manager was responding to the…