Seth Klarman

Seth Klarman

The Baupost Group
Last update 2020-02-13 29 Stocks (3 new)
Value $8.60 Bil Turnover 9 %
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Seth Klarman Profile

Seth Klarman is a value investor and Portfolio Manager of the investment partnership The Baupost Group. Founded in 1983, The Baupost Group now manages $7 billion, and has averaged returns of nearly 20% annually since their inception. Seth Klarman is the author of the book "Margin of Safety" which sells for over $1000. Mr. Klarman attended Cornell University where he received a degree in economics, and later attended Harvard University where he earned an M.B.A.

Seth Klarman Investing Philosophy

Seth Klarman invests in a wide array of investments ranging from fairly traditional value stocks to more esoteric investments like distressed debt, liquidations, and foreign equities or bonds. Klarman doesn't mind "doing nothing" on occasion. He is completely unperturbed by the idea of sitting on the sidelines holding cash whenever investment opportunities are scarce. In fact, in 2005 and 2006, nearly half of his portfolio was held in cash. Investing, he cautions, is more than just producing absolute returns. Too often investors focus on that one easy number "return" and ignore the risks incurred to generate that number.
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Performance of Baupost Fund

Year Return % S&P500 % Excess Gain %
2001 27.1 -11.76 38.9
2000 9.9 -9.75 19.6
1999 -18.3 20.38 -38.7
3-Year Cumulative (1999-2001) 14.12 (4.50/Year) -4.13 (-1.38/Year) 18.25 (5.88/Year)
1998 30 28.69 1.3
1997 24.8 33.49 -8.7
5-Year Cumulative (1997-2001) 85.15 (13.11/Year) 64.69 (10.49/Year) 20.46 (2.62/Year)
1996 13.1 22.5 -9.4
1995 8.1 38.06 -30
1994 13.4 0.38 13
1993 18.9 10.08 8.8
1992 9.5 7.62 1.9

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