[From The Archives] Seth Klarman On Value Investing, Leverage, Trading Strategies And The Herd Mentality Pt. 1
Seth Klarman is, undoubtedly, one best value investors working today. His hedge fund, the Baupost Group, has returned an average of 19% per annum since inception and currently looks after around $30bn for clients.
When Seth Klarman speaks, it pays to listen. To that end, I recently stumbled across a speech Klarman gave at the end of October 2007.
When Klarman made his speech on October 20 2007, the market had just peaked. After hitting a high of just . . .
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