Seth Klarman

Seth Klarman

Last Update: 11-14-2016

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

  • 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

    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

    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 (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

    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

    Dear Shareholder,

      


  • 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


    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 (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).

      


  • How Can You Beat the Market?

    The investing world is full of tough competition. Better results require hard work. Sometimes even hard work is not enough.


    If you are looking for investment opportunities in the same places as everyone else, it’s difficult to get a competitive advantage.

      


  • Seth Klarman Sells SunEdison Semiconductor Before Close of Merger

    Seth Klarman (Trades, Portfolio), founder of the Baupost Group, completed his exit from SunEdison Semiconductor (NASDAQ:SEMI) after selling off almost three-quarters of his position last month, he reported Friday.


    SunEdison produces semiconductors used in electronics and its clients include all of the 25 biggest customers in the semiconductor industry.

      


  • Seth Klarman Made 3 Transactions in August

    Seth Klarman (Trades, Portfolio), a value investor and portfolio manager for the investment partnership The Baupost Group, made three transactions on Aug. 31.


    The position in PBF Energy Inc. Class A (PBF) was raised by 47.77% with an impact of 1.5% on the portfolio. He now holds 0.88% of the company's outstanding shares.

      


  • Is Benjamin Graham Still Relevant?

    Are the principles laid out by Benjamin Graham no longer of any use in today’s world?


    There are some who believe this statement to be true. Indeed, there are few if any well-known investors who follow Graham’s net-nets investing rules today. The most prominent value investors such as Warren Buffett (Trades, Portfolio) and Seth Klarman (Trades, Portfolio) use intrinsic value calculations rather than a net-nets approach to find bargains in the market.

      


  • All Investors Should Own Some Deep Value Stocks

    There are many different ways of building an investment portfolio; ultimately how you build your portfolio will depend on your investment objectives as well as appetite for risk.


    Dividends or dividend stocks are usually the foundations of any portfolio no matter what your attitude on risk or investment objectives. Indeed, you can’t go wrong with a steady stream of dividends to improve your portfolio’s returns when times are good and generate a steady income when times are bad. Alongside dividend stocks, there’s one other class of equities that should have a place in every portfolio – deep value stocks.

      


  • Canada's Best Dividend Growth Stocks for 2017 (and Beyond)

    (This is a guest contribution from The Financial Canadian.)


    Throughout this post I will be providing investment research. However, this research is not valid without the assumption that readers will be investing with a long-term horizon (meaning a minimum of three years).

      


  • On Long-Term Systematic Investing

    I started Sure Dividend to help individual investors invest better.


    Does that mean I’m some sort of stock-picking guru? I will be the first to tell you that I am not.

      


  • Why Klarman Is Loading up on PBF

    With both Buffett and Klarman loading up on refineries, it is hard not to be intrigued. Last month, I examined what could motivate Buffett to pursue Philips 66 and in this article I’ll do the same for Klarman, who acquired 16% of PBF Energy (NYSE:PBF).


    I believe there are three important drivers of Klarman’s interest:

      


  • Seth Klarman Keeps Pouring Money Into This Oil Refiner

    Seth Klarman (Trades, Portfolio), a conservative investor who runs Boston-based Baupost Management, again added to his growing position PBF Energy (NYSE:PBF), the fourth-largest independent oil refiner in the U.S. – two spaces below Warren Buffett (Trades, Portfolio)’s refiner Phillips 66 (NYSE:PSX)


    Klarman added 5,083,000 shares to the position on Aug. 31 that increased it by roughly 48%. With a total position of 15,724,175 shares, he controls 16.1% of the company. He started the position in the third quarter 2013 and continued buying over the subsequent two years, but sold almost 400,000 shares in the first quarter this year when the price reached its highest quarterly average of $32.

      


  • The 6 Principles of Value Investing

    The world of investing can be a complicated place to navigate. Where do you start? For beginners, the sheer volume of information available to them on the internet has only served to make the process more complex and increase confusion.


    Moreover, it appears that most investment strategies are now called value strategies, even though they have little in common with the traditional value strategies laid out by the likes of Benjamin Graham and Walter Schloss.

      


  • Seth Klarman Buys Stake in Citigroup

    Seth Klarman (Trades, Portfolio), value investor and the author of "Margin of Safety," purchased a 5,167,000-share stake in Citigroup (C) for an average price of $44.18 per share during the second quarter. The trade had a 2.99% impact on Klarman's portfolio.


    Since Klarman purchased a stake in Citigroup its market price has risen by an estimated 8%.

      


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