Seth Klarman

Seth Klarman

Last Update: 02-14-2017

Number of Stocks: 42
Number of New Stocks: 8

Total Value: $7,598 Mil
Q/Q Turnover: 20%

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

Seth Klarman Watch

  • Has Seth Klarman Sold Cheniere Energy Entirely?

    Seth Klarman - Has Seth Klarman Sold Cheniere Energy Entirely?

    Seth Klarman (Trades, Portfolio) is one of the world’s most followed investors and is also one of the world’s most respected value investors. Whenever he makes an investment, you can be sure that hours of research have gone into the opportunity, and at the time of acquisition, the stock will be trading at a deep discount to its estimated intrinsic value as calculated by Klarman and his team at Baupost.

    With this being the case when it became clear that Baupost had built a significant position in Cheniere (LNG) several years ago, it came as a surprise to many Klarman followers. Indeed, at the beginning of 2015, nearly a year after the investment became public, value blog value and opportunity proclaimed:


  • How to Manage Your Portfolio

    Seth Klarman - How To Manage Your Portfolio

    Buying a stock is easy. Anyone can do it, with or without research. But when it comes to selling stock or managing your portfolio to achieve the best returns, the process is a bit more complicated.

    Value investing legend Seth Klarman (Trades, Portfolio) shares some tips on how to manage your portfolio to produce the best long-term returns in his book "Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor."


  • Wall Street Is Your Worst Enemy

    Seth Klarman - Wall Street Is Your Worst Enemy

    The information below is based on Seth Klarman (Trades, Portfolio)’s out-of-print book, "Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor."

    Wall Street is plagued by conflicts of interest and short-term bias, which does nothing to improve the performance of the average investor according to Klarman.


  • 5 Lessons From the Top 10 Gurus

    David Tepper, Seth Klarman, Prem Watsa, Bill Ackma - 5 Lessons From The Top 10 Gurus

    In recent weeks I have profiled the eight gurus with the best average annual returns over the past 10 years, as shown on the GuruFocus Scoreboard. The investing philosophy of another other guru, Seth Klarman, had been provided recently by GuruFocus writer Rupert Hargreaves, while I had profiled Donald Yacktman in late 2016.

    As the process unfolded, some themes started to appear, although not always immediately obvious. This article explores those themes, following brief overviews of each of the gurus. I am not prepared to say these explorations are definitive, but would hope they stimulate further thought and discussion.


  • Is Cardinal Health a Better Bargain Than Ever?

    Warren Buffett,Seth Klarman - Is Cardinal Health A Better Bargain Than Ever?

    (Published on April 18 by Nicholas McCullum)

    The Standard & Poor's 500 is trading at a historically expensive valuation, propped up by low interest rates, quantitative easing and positive investor sentiment. This has made it difficult to find bargains in today’s stock market.


  • The Benefits of a Concentrated Portfolio

    Warren Buffett,Charlie Munger,Seth Klarman, - The Benefits Of A Concentrated Portfolio

    Many of the world’s best investors got where they are today by using a concentrated portfolio approach. Warren Buffett (Trades, Portfolio) and Charlie Munger (Trades, Portfolio) are primary examples.

    But while these investors have been able to make billions of dollars using such an approach, it is not suitable for all investors. Indeed, everyone has heard of Buffett and Munger, but how many other thousands of investors are there out there who tried to use such an approach but failed?


  • Seth Klarman on Looking for Bargains

    Seth Klarman - Seth Klarman On Looking For Bargains

    Seth Klarman (Trades, Portfolio) is one of the world’s most respected value investors, and he is an investor I have done a substantial amount of work on in the past. Klarman’s style of investing is simple; he is on the lookout for companies trading at a deep discount to intrinsic value. This is not as simple as it seems however. Klarman’s particular style of value investing is not just limited to estimating how a particular company will grow over the next few years. Instead, Klarman is on the lookout for businesses trading at a deep discount to their current asset value. More often than not, trying to find these companies requires plenty of work, which puts investors off.

    Looking through Klarman’s portfolio, it is clear even the rest of the world’s most renowned value investors are afraid to follow his lead on several positions. Take Viasat Inc. (NASDAQ:VSAT) for example. Of the many great value investor portfolios tracked by GuruFoucs, Klarman is one of four investors to hold a stake in the satellite provider. PBF Energy Inc. (NYSE:PBF) is another position Klarman likes but the rest of Wall Street appears to hate.


  • Behind the Bill Ackman Controversies

    Bill Ackman,David Tepper,Prem Watsa,Seth Klarman,W - Behind The Bill Ackman Controversies

    "The 55% of our capital in activist investments has produced more than 90% of our returns." Bill Ackman (Trades, Portfolio), as quoted by Advisor Perspectives


  • Don’t Fall Into the Value Investing Trap

    Seth Klarman,Warren Buffett - Don’t Fall Into The Value Investing Trap

    The term "value investing" seems to have become one of the world's most misused descriptive statements. As plenty of research has shown that value stocks generally outperform the market over the long term, investors have flocked to the style over the years, and now any mention of a particular value stock is enough to attract the attention of investors all over the world.

    This means that "value stock" is now thrown around for any equity that appears cheap, which just isn’t what value investing is based on.


  • 9 Questions With Value Investor Joseph Calandro Jr.

    Warren Buffett,Mario Gabelli,Seth Klarman - 9 Questions With Value Investor Joseph Calandro Jr.

    1. What is the best investment advice you have ever been given?

    “Investment is most intelligent when it is most businesslike” – Benjamin Graham


  • Learning From the Best: Keep Emotion Out of It

    Warren Buffett,Seth Klarman,Howard Marks,Bill Ackm - Learning From The Best: Keep Emotion Out Of It

    As an investor keeping emotions under control is probably one of the most important skills required to be successful over the long term. Famous investors such as Warren Buffett (Trades, Portfolio) and Seth Klarman (Trades, Portfolio) have mastered this skill, which is why they can buy when others are fearful and make billions from volatile markets.

    If it weren’t for the tens of thousands of highly emotional investors who cause market volatility, which throws up the opportunities for these value investors to take advantage of, their returns wouldn’t be as outstanding as they are.


  • Lessons From the Best: How to Pick the Bottom

    Mohnish Pabrai,Seth Klarman - Lessons From The Best: How To Pick The Bottom

    Value investing is all about buying cheap stocks. Unfortunately, finding cheap stocks is easier said than done. Distinguishing between price and value is the first step in this process. Just because a particular company’s shares look cheap compared to previous price action does not mean they offer value.

    If the shares were trading at $100 two years ago and are now trading at $10, and over the same period profits have fallen by 90%, and so has shareholder equity, then it’s fair to say that shares are fairly valued at the new lower price of $10.


  • Seth Klarman Dividend Stocks in Focus: ChipMOS Technologies

    Seth Klarman,Warren Buffett - Seth Klarman Dividend Stocks In Focus: ChipMOS Technologies

    (Published by Bob Ciura on March 20)

    Value and income investors should get to know Seth Klarman (Trades, Portfolio).


  • Seth Klarman Dividend Stocks in Focus: Colony NorthStar

    Seth Klarman - Seth Klarman Dividend Stocks In Focus: Colony NorthStar

    (Published by Bob Ciura on March 21)

    Extremely high dividend yields are tantalizing, but also come with significant risks. While they certainly look appealing, it is important to assess whether the dividend is sustainable.


  • 22 Questions With the Founder of Sure Dividend

    Warren Buffett,Seth Klarman - 22 Questions With The Founder Of Sure Dividend

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

    When I went to college I chose a finance degree over a psychology degree, narrowly. There was one specific class I took in college about market inefficiencies – it covered how small cap stocks have historically outperformed, how value stocks have historically outperformed and so on. The idea of market inefficiencies really hooked me, and I’ve been deeply interested in finance ever since.


  • Why Cash Is King

    Warren Buffett,Charlie Munger,Seth Klarman,Glenn G - Why Cash Is King

    Cash is probably the one word that can describe my investing strategy. A focus on cash dominates every investment and piece of investment analysis I conduct as it is the single most important factor to consider when assessing a business’ survivability.

    Unlike profits, cash flows cannot be manipulated at the stroke of a pen, and even if they are questions will be asked when the company’s balance sheet does not match up. What’s more, unlike profits, cash flow goes straight to the bottom line.


  • Searching Seth Klarman’s Letters for Investment Tips

    Seth Klarman - Searching Seth Klarman’s Letters For Investment Tips

    Seth Klarman (Trades, Portfolio) is considered to be one of the world’s best value investors. Klarman’s Boston-based hedge fund Baupost has achieved an average annual return of 20% for investors since inception despite the fact the fund usually holds around 20% of assets in cash.

    These impressive returns despite the fund’s high cash weighting have earned Klarman a reputation as one of the market’s most astute investors, and his thoughts, published within Baupost’s quarterly and full-year letters, are always hot topics among investors of all disciplines.


  • Seth Klarman’s Top 5 High Dividend Stocks

    Seth Klarman,Warren Buffett - Seth Klarman’s Top 5 High Dividend Stocks

    (Published by Nicholas McCullum on March 19)

    Investing is unique in that anyone has the ability to learn from the best in the business.


  • What You Need to Know About the March Rate Hike

    Seth Klarman - What You Need To Know About The March Rate Hike

    (Published by Nicholas McCullum on March 18)

    The Federal Reserve Board increased its benchmark interest rate by 0.25% on March 15.


  • Grow Your Wealth Like the Best Dividend Investors

    Warren Buffett,Seth Klarman - Grow Your Wealth Like The Best Dividend Investors

    (Published by Nicholas McCullum on March 15)

    Dividend investing is one of the most actionable, repeatable methods of building wealth over time.


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