Seth Klarman

Seth Klarman

Last Update: 01-09-2017

Number of Stocks: 43
Number of New Stocks: 10

Total Value: $6,996 Mil
Q/Q Turnover: 21%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Seth Klarman Watch

  • A Fond Farewell

    Seth Klarman, Warren Buffett - A Fond Farewell

    In an article last year, I used a quote by Seth Klarman (Trades, Portfolio) that said investing was an "arrogant act." Having just published my 100th article here on GuruFocus, it seems to me being a writer on value investing could fall under the same definition. First, one has to assume that he or she has something valuable to add to the dialogue. Second, one must be able to package this so-called wisdom in such as way to make your points succinctly and in an engaging style. Lastly, the writing must provide readers with an interesting perspective missing in the conversation. Each of these alone is a difficult goal to meet, but achieving a blend of all three really is a leap of faith - and ego.


    I bring this up because this will be my last article on GuruFocus for the foreseeable future. I have greatly enjoyed meeting you either in person at the GuruFocus conference or via the GuruFocus website. It means a great deal that so many of you would take the time to read my writing, provide feedback (good and bad!) and ask incredibly astute questions. Without a doubt, the GuruFocus community has made me a better writer and investor.

      


  • Low-Yield Dividend Stocks Belong in Your Portfolio

    Seth Klarman,Warren Buffett - Low-Yield Dividend Stocks Belong In Your Portfolio

    (Updated Jan. 19 by The Financial Canadian)


    As dividend growth investors, it is often easy to get caught up in the trap of "chasing yield" – investing in the highest-yielding stocks without regard to any other financial metrics.

      


  • Colony Capital Closes Merger With NorthStar Asset Management

    David Abrams,Seth Klarman - Colony Capital Closes Merger With NorthStar Asset Management

    Colony Capital Inc. (CLNY) announced the close of its merger with NorthStar Asset Management Group Inc. (NYSE:NSAM) and NorthStar Realty Finance Corp. (NYSE:NRF) on Jan. 10.


    The merger, which is the largest commercial real estate merger of 2016, was announced at the beginning of June and approved by all three companies’ shareholders on Dec. 20. The newly combined REIT is called Colony NorthStar Inc. (NYSE:CLNS), and it is now the fifth-largest global real estate management company with a market cap of around $9 billion and $58 billion worth of assets under management.

      


  • 9 Stocks Trading Below the Peter Lynch Value

    John Paulson,Columbia Wanger,Seth Klarman,George S - 9 Stocks Trading Below The Peter Lynch Value

    According to GuruFocus' All-in-One Screener, several gurus are focusing on stocks whose Peter Lynch fair values are far above the current prices. The following stocks are trading with wide margins of safety and at least five gurus are shareholders.


    Akorn Inc. (AKRX) is trading at about $22 per share. The Peter Lynch value gives the stock a fair price of $37 so the stock is undervalued with a margin of safety of 41%.

      


  • Seth Klarman Trims Cheniere Energy

    Seth Klarman,Steve Mandel,John Griffin,Jim Simons - Seth Klarman Trims Cheniere Energy

    Seth Klarman (Trades, Portfolio), portfolio manager of The Baupost Group, trimmed 21.97% of his stake in Cheniere Energy Inc. (LNG) Jan. 9 likely due to a weak financial outlook. As of the transaction, Klarman owns 21,726,340 shares of the midstream energy company, about 9.25% of total shares outstanding.


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  • Harmony Merger Inks Deal Greenblatt Favors

    Joel Greenblatt,Seth Klarman - Harmony Merger Inks Deal Greenblatt Favors

    Harmony Merger (NASDAQ:HRMN) came public as a blank check company – a company with nothing but cash and the intentions of making an acquisition.


    I’ve been a sucker for the Special Acquisition Corps (SPACs) since I saw Seth Klarman (Trades, Portfolio) holding a bunch of them a few years ago. Since the cash they have on their balance sheets usually supports their market valuation, there is quite a bit of downside protection.

      


  • 23 Questions With Value Investor De Mai

    Warren Buffett, Charlie Munger, Seth Klarman - 23 Questions With Value Investor De Mai

    1. How and why did you get started investing? What is your background?


    While majoring in electrical engineering degree in college, I minored in economics, Japanese studies and psychology. I always wanted to know more about investing. After college, I started to learn how to take care of my own finances in order to manage my own 401K and IRAs. Through the Nightly Business Report on PBS, I learned about capital allocation and investing. I bought my first stock soon after graduation.

      


  • 25 Questions With Tom Vilord of Vilord Wealth Advisors

    Warren Buffett,Joel Greenblatt,Seth Klarman,Mohnis - 25 Questions With Tom Vilord Of Vilord Wealth Advisors

    1. How and why did you get started investing? What is your background?


    I got started in the industry in 2000. I wanted to become a financial adviser because I wanted to learn how to research stocks like the guys on Wall Street. I wanted to learn what made Warren Buffett (Trades, Portfolio) so successful while most Americans failed to achieve success investing in the market. What did he know that the rest of us didn’t? After I passed my licensing exams, the company I was working for sent me to New York for three weeks of training. I thought this is when I was going to learn everything I needed to know to be a successful investor. Unfortunately, my first two weeks of training were nothing but sales training classes. The last week was training on all of the proprietary products. I was taught to be a salesperson. I learned absolutely nothing about how to invest money. And I was about to invest people's life savings. After a few years of not having a clue about what I was doing and having clients teach me stuff about the market, I started to self-teach myself. I bought every book I could read. I started taking personal one on one coaching courses, etc. I have been an adviser since 2000, but I have been an investor since 2005.

      


  • 25 Questions With Indian Investor Neeraj Marathe

    Howard Marks,Seth Klarman - 25 Questions With Indian Investor Neeraj Marathe

    Neeraj Marathe is an investor based in Pune, Maharashtra. His core competency lies around investing in Indian listed companies, specifically mid-caps and small-caps, using fundamental analysis and value investing principles. He is an avid reader and reads books based on value investing, behavioral finance and psychology.


    As a hobby, he has been teaching for the last 10 years in B-Schools based in Pune, where he teaches specialization subjects like security analysis and portfolio management.

      


  • 23 Questions With Adam Strauss of Appleseed Fund

    Warren Buffett,Seth Klarman,Steven Romick - 23 Questions With Adam Strauss Of Appleseed Fund

    1. How and why did you get started investing? What is your background?


    My father was a lifelong value investor and most of my investing habits came from watching him invest and learning from him. He has always been a contrarian, as an investor and otherwise. He spent most of his career as a sell-side analyst for William Blair, a growth shop, despite his natural inclination as a value investor.

      


  • 18 Questions With John Huber of Saber Capital Management

    Warren Buffett,Joel Greenblatt,Seth Klarman - 18 Questions With John Huber Of Saber Capital Management

    1. How and why did you get started investing? What is your background?


    I’ve always loved investing. My father was an engineer but was very active investing his savings in the stock market. By extension I became interested in stocks and investing relatively early on. But I came to the world of investment management unconventionally. I began my career in real estate, doing a variety of brokerage, investment and management activities in both residential and commercial real estate, and I established a few small partnerships with family members and friends to begin buying undervalued income-producing property. We bought residential properties as well as small multifamily properties.

      


  • 13 Questions With Argentine Value Investor Santiago Lucca

    Warren Buffett,Seth Klarman - 13 Questions With Argentine Value Investor Santiago Lucca

    1. How and why did you get started investing? What is your background?


    Everything begins in a very particular way. While I do not remember exactly how old I was when I had my first attraction to business, I can say it was at a very early age. I had the opportunity, with the help of my family, to make my first venture. Time passed and I became more and more interested in business. It was obvious that is, of course, where I wanted to go. Unfortunately, I did not have the opportunity Warren Buffett (Trades, Portfolio) had to buy my first three shares of Cities Service Preferred at age 11.

      


  • 23 Questions With Nitiin A. Khandkar

    Seth Klarman,Howard Marks - 23 Questions With Nitiin A. Khandkar

    1. How and why did you get started investing? What is your background?


    ​I have a bit of family background in investing – the last three generations of my family​ used to invest in Indian stocks, albeit in a small way. I became a chartered accountant (Indian equivalent of US CPA) 2 decades back. A little before that, the Indian economy was opened to foreign companies and investors in 1991, and a number of foreign funds started investing in Indian equity markets. What got me interested in a career in investment research was that the job was so different from the usual accountant's/tax adviser's. It requires one to be on top of developments in economy, industries and companies. I eventually managed to find a job as a sell-side equity research analyst in the mid-1990s. This is where my investing journey began. I have been a sell-side analyst, buy-side analyst and portfolio manager, too.

      


  • Louis Moore Bacon Goes 3 for 3 in 3rd Quarter

    Louis Moore Bacon,Seth Klarman,Arnold Schneider,Br - Louis Moore Bacon Goes 3 For 3 In 3rd Quarter

    New York hedge fund manager Louis Moore Bacon (Trades, Portfolio) invests in companies with a global macro strategy. Since the 1990s, Bacon has been among the top 20 “money earners.” The guru axed his entire stake in Citigroup Inc. (NYSE:C) and JPMorgan Chase & Co. (NYSE:JPM) and nearly eight-ninths of his stake in Bank of America Corp. (NYSE:BAC). With the proceeds, Bacon invested in MasterCard Inc. (NYSE:MA), Alphabet Inc. (NASDAQ:GOOGL) and The Priceline Group Inc. (NASDAQ:PCLN).


    Guru dumps global bank empire

      


  • Seth Klarman Eliminates 4 Stakes in 3rd Quarter

    Seth Klarman,Louis Moore Bacon,Leon Cooperman,Larr - Seth Klarman Eliminates 4 Stakes In 3rd Quarter

    Seth Klarman (Trades, Portfolio), value investor and portfolio manager of the Baupost Group, invests in an eclectic variety of investments from traditional equities to more esoteric investments, including distressed debt, liquidations and bonds.


    Occasionally, the Baupost Group manager will abstain from investing and simply hold cash. During the third quarter, Klarman removed four positions from his portfolio: EMC Corp. (NYSE:EMC), Citigroup Inc. (NYSE:C), Avis Budget Group Inc. (NASDAQ:CAR) and SunEdison Semiconductor Corp. (NASDAQ:SEMI).

      


  • Gurus' Stocks With Low P/E Ratios

    Seth Klarman,Mario Gabelli,Jim Simons,HOTCHKIS & W - Gurus' Stocks With Low P/E Ratios

    Gurus are buying stocks that are trading with low price-earnings (P/E) ratios. Some are greatly undervalued, according to the DCF calculator.


    Credit Acceptance Corp. (CACC), with a market cap of $3.72 billion, is trading with a P/E ratio of 12.08 and a price-sales (P/S) ratio of 4.20. According to the DCF calculator the stock has a fair value of $430.44 while trading at about $182; it is largely undervalued with a margin of safety of 58%. The price has dropped by 16% during the last 12 months and is now 29.28% below its 52-week high and 14.70% above its 52-week low.

      


  • Bill Smead's Smead Value Fund 3rd Quarter Commentary

    Seth Klarman - Bill Smead's Smead Value Fund 3rd Quarter Commentary

    Dear Shareholder,

      


  • Investing and Profit with Net-Nets

    Joel Greenblatt,Seth Klarman - Investing And Profit With Net-Nets

    Investing in net-nets is a really deep and pure value investing style. Net current asset value method is an investing technique first introduced by Benjamin Graham in the 1930s.


    Many research studies demonstrate that the NCAV investment approach has produced clearly better-than-average results already over 80 years. Graham told himself, “I consider it a foolproof method of systematic investment – once again, not on the basis of individual results but in terms of the expectable group outcome.”

      


  • Lemon Juice, Knights and Hybrids

    Warren Buffett,Mason Hawkins,Seth Klarman - Lemon Juice, Knights And Hybrids

    Being a hybrid maker off and on over the years, I'm very comfortable with the idea and have been the subject of quite a few pretty good mashups myself.” – David Bowie

      


  • What Does Seth Klarman See in PBF?

    Seth Klarman - What Does Seth Klarman See In PBF?

    Seth Klarman (Trades, Portfolio) is one of the world’s most respected and followed value investors. His Boston-based Baupost Group, the $27 billion hedge fund that invests in both public stocks and private deals, has produced a return of around 19% per annum for investors since 1983 even though the fund tends to have a large cash allocation.


    With this impressive record, when Klarman enters a position the market listens, and one company that has recently attracted his attention is independent refiner PBF Energy (NYSE:PBF).

      


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