Seth Klarman

Seth Klarman

Last Update: 04-09-2018

Number of Stocks: 33
Number of New Stocks: 2

Total Value: $10,081 Mil
Q/Q Turnover: 21%

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

Seth Klarman' s Profile & Performance

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.

Web Page:http://www.baupost.com/

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.

Total Holding History

Performance of Baupost Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
200127.1-11.8939.0
20009.9-9.119.0
1999-18.321.04-39.3
3-Year Cumulative14.1 (4.5%/year)-3.1 (-1%/year)17.2 (5.5%/year)
19983028.581.4
199724.833.36-8.6
5-Year Cumulative85.1 (13.1%/year)66.2 (10.7%/year)18.9 (2.4%/year)
199613.122.96-9.9
19958.137.58-29.5
199413.41.3212.1
199318.910.088.8
19929.57.621.9
10-Year Cumulative234.2 (12.8%/year)237.5 (12.9%/year)-3.3 (-0.1%/year)

Top Ranked Articles

Re-Reading Seth Klarman Excerpts from 2 OID issues
I sat on a couch and re-read two old issues of OID – one from March 2009 and one from February 2008. Seth Klarman (Trades, Portfolio) was featured in both issues. His warnings in the February 2008 issue turned out to be prescient, and his comments in the March 2009 issue were both timeless and timely. Read more...
Some Thoughts on Holding Cash As markets reach record highs, investors have questioned whether it makes sense to continue holding cash
The S&P 500 continued climbing in the first half of 2017, with a total return of 9.3% (according to Morningstar). Over the past five years, the compounded return for the index has been nearly 15% per annum (enough to double your money). It’s been a wonderful time to be long U.S. equities. Read more...
Investment Gems From Seth Klarman Notes from Baupost's January 1990 letter to investors
Today I read the March 1990 issue of Outstanding Investor Digest (too bad it looks like the publisher had permanently stopped the subscription service). Highlighted in this issue was Baupost’s letter to clients in January 1990 written by Seth Klarman (Trades, Portfolio) and Howard Stevenson. I’m always thrilled to bump into gems like this. Below are my notes from the letter. Read more...
Interest Rates and Stock Prices The impact of long-term interest rates on equity valuations, and what that means for forward rates of return
During a recent CNBC appearance, Warren Buffett (Trades, Portfolio) said the following about the relationship between interest rates and equity valuations: Read more...
Seth Klarman on Passive Investing He is not a fan of the strategy
Index investing has gained in popularity in recent years. As asset managers like Vanguard lower the cost of their products to levels that shame the active management industry, investors have rushed in seeking better returns and lower costs. Read more...
» More Seth Klarman Articles

Commentaries and Stories

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Rating: 4.0/5 (1 vote)

Is Distressed Debt the Key to Seth Klarman's Outperformance? Seth Klarman on the benefits of buying debt Seth Klarman - Is Distressed Debt The Key To Seth Klarman's Outperformance?
Seth Klarman (Trades, Portfolio) is one of the most celebrated value investors of all time. More...

KLARMAN, SETH KLARMAN, DEBT, DISTRESSED DEBT, VALUE INVESTING


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What Makes a Value Investor According to Seth Klarman Seth Klarman on the best qualities value investors possess. Seth Klarman - What Makes A Value Investor According To Seth Klarman
I've recently been reading through a speech Seth Klarman (Trades, Portfolio) gave at the MIT Sloan Investment Management Club on Oct. 20, 2007. The speech concentrated on the best qualities a value investor must have to succeed and touched on some points about the current (2007) state of the financial system. More...

VALUE, VALUE INVESTING, VALUE STOCKS, SETH KLARMAN


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Seth Klarman: The Best Investors Do Not Target Returns An overview of the key qualities of the world's best investors Seth Klarman, Warren Buffett - Seth Klarman: The Best Investors Do Not Target Returns
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VALUE, VALUE INVESTING, SETH KLARMAN


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What's So Important About Benjamin Graham Notes from a lecture on Graham by Buffett Seth Klarman - What's So Important About Benjamin Graham
In his latest letter to limited partners of Baupost, Seth Klarman (Trades, Portfolio) discusses why Benjamin Graham is still relevant today, even though value investing has changed significantly since he first wrote Security Analysis. More...

VALUE, VALUE INVESTING, WARREN BUFFETT, BENJAMIN GRAHAM


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Seth Klarman Boosts Stake in Atara Biotherapeutics Guru real-time pick highlight Seth Klarman - Seth Klarman Boosts Stake In Atara Biotherapeutics
Baupost Group manager Seth Klarman (Trades, Portfolio) disclosed on Monday that he increased his stake in Atara Biotherapeutics Inc. (NASDAQ:ATRA). More...

SETH KLARMAN, STEVEN ROMICK, BILL ACKMAN, CARL ICAHN, WARREN BUFFETT


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A Long-Term View Is Key Seth Klarman shares some tips on long-term investing Seth Klarman - A Long-Term View Is Key
Market volatility has returned with a vengeance this year. With this being the case, I think it's the perfect time to revisit one of the core principles of value investing: investing with a long-term outlook. More...

VALUE, VALUE INVESTING, SETH KLARMAN, LONG-TERM INVESTING


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Seth Klarman: The Most Important Thing Some of the most important investment advice the guru has received Seth Klarman - Seth Klarman: The Most Important Thing
As one of the world's most successful value investors, Seth Klarman (Trades, Portfolio) has been at the top of his game for several decades. Over this period, he has undoubtedly picked up a wealth of experiences. More...

VALUE, VALUE INVESTING, SETH KLARMAN


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Value Investing, the Margin of Safety and the Circle of Competence Expanding on the circle of competence idea Seth Klarman - Value Investing, The Margin Of Safety And The Circle Of Competence
The margin of safety and circle of competence are two vital investment principles, although they both have very different meanings. More...

VALUE, VALUE INVESTING, VALUE STOCKS, CIRCLE OF COMPETENCE


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David Abrams Reduces Stake in Struggling Campus Bookseller The Seth Klarman protege has a 13% stake in Barnes & Noble Education David Abrams, Seth Klarman - David Abrams Reduces Stake In Struggling Campus Bookseller
Guru investor David Abrams (Trades, Portfolio) is scaling back an ownership interest in the college booksellers unit of Barnes & Noble Inc. (NYSE:BKS) that went public almost three years ago. More...

BOOKSTORE, BARNES & NOBLE, SALES, EARNINGS, NET INCOME, ON-LINE RENTALS, EDUCATION, UNIVERSITY,


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Revisiting Humility and Arrogance Updated thoughts Seth Klarman - Revisiting Humility And Arrogance
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CHARLIE MUNGER, SETH KLARMAN


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Is This the World's Most Undervalued Market? Value investors may find plenty of opportunities in the UK Seth Klarman - Is This The World's Most Undervalued Market?
According to a recent survey from Bank of America Merrill Lynch, which quizzed investors managing a total of $510 billion, U.K. equities are currently the most disliked in the world, with managers more underweight the asset class than at any point since 2008. More...

BT, LLOYDS, VALUE, VALUE INVESTING


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Analysts Raise Time Warner to 'Buy' It's inevitable that the company will draw other suitors if AT&T deal collapses David Einhorn, Seth Klarman, David Abrams, Stanley - Analysts Raise Time Warner To 'Buy'
A growing number of Wall Street analysts are predicting regulatory approval of AT&T Inc.’s (NYSE:T) bid for Time Warner Inc. (NYSE:TWX) by summer’s end. More...

TIME WARNER, AT&T, EARNINGS, ANTITRUST LAWSUIT, JUSTICE DEPARTMENT, HBO, CNN, ENTERTAINMENT


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What Investment Gurus Think of Cryptocurrencies A compilation of quotes from notable investment professionals sharing their opinion on modern cryptocurrencies Seth Klarman,Carl Icahn - What Investment Gurus Think Of Cryptocurrencies
Cryptocurrency has been in the headlines on a daily basis for months, if not years now. It has captured the attention of users as both a means to pay for goods and services as well as a means of investment. Currently, talks of creating crypto-exchanges are being debated, and the ability to buy and sell cryptocurrencies is expected to get easier when apps such as Robinhood support trading for little to no fees. More...

CRYPTOCURRENCY, RISK, INVESTMENT GURU'S


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Investment Gems From Seth Klarman Notes from Baupost's January 1990 letter to investors Seth Klarman - Investment Gems From Seth Klarman
Today I read the March 1990 issue of Outstanding Investor Digest (too bad it looks like the publisher had permanently stopped the subscription service). Highlighted in this issue was Baupost’s letter to clients in January 1990 written by Seth Klarman (Trades, Portfolio) and Howard Stevenson. I’m always thrilled to bump into gems like this. Below are my notes from the letter. More...

SETH KLARMAN


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Should You Follow Seth Klarman and David Tepper Into Allergan? These two value investors have been buying the pharmaceutical company, but is it the right decision? Seth Klarman, David Tepper, Wallace Weitz - Should You Follow Seth Klarman And David Tepper Into Allergan?
Over the past several weeks, the world's best value investors have been filing 13Fs with the SEC, which detail positions held by their respective funds. These reports only contain equity holdings and are backward-looking, so they are not a complete picture of what all these investors own. Regardless, they are still a fascinating insight into what some of the best value investors in the world currently like. More...

ALLERGAN, VALUE, VALUE INVESTING, SETH KLARMAN, DAVID TEPPER


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Seth Klarman Buys Time Warner, Boosts Pioneer, Allergan Guru's largest buys of the 4th quarter Seth Klarman - Seth Klarman Buys Time Warner, Boosts Pioneer, Allergan
Baupost Group's Seth Klarman (Trades, Portfolio) increased many holdings and established several positions in the fourth quarter. More...

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Should You Follow Seth Klarman Into Time Warner? Baupost's investment in the media giant looks like an arbitrage play Seth Klarman - Should You Follow Seth Klarman Into Time Warner?
Over the past several decades, Seth Klarman (Trades, Portfolio) has built himself a reputation as one of the world's best value investors. So today, when he buys a position for his portfolio, it usually pays to take a look and see if it is worth following him into the stock. More...

SETH KLARMAN, VALUE, VALUE INVESTING, TIME WARNER, AT&T


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Thomas Macpherson: Finding Wisdom You don’t need to be a genius to be a good investor, with Macpherson's advice Warren Buffett,Seth Klarman - Thomas Macpherson: Finding Wisdom
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THOMAS MACPHERSON, TOM MACPHERSON, SEEKING WISDOM, THOUGHTS ON VALUE INVESTING, VALUE INVESTORS, NINTAI PARTNERS, DORFMAN VALUE INVESTMENTS, HUMAN FACTORS, PETER LYNCH, WARREN BUFFETT, TRADING COSTS,


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Seth Klarman Plunges Into Time Warner in 4th Quarter Baupost’s latest bet offers good growth potential in the current year Seth Klarman - Seth Klarman Plunges Into Time Warner In 4th Quarter
Baupost Group manager Seth Klarman (Trades, Portfolio) disclosed Tuesday that he placed a big bet on Time Warner Inc. (NYSE:TWX) during fourth-quarter 2017. More...

SETH KLARMAN


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Should You Benchmark? Determining if you should compare your performance to the market Seth Klarman, Warren Buffett - Should You Benchmark?
Recently, I have been asking myself if it is worth benchmarking the performance of my portfolio on a monthly or quarterly basis. More...

VALUE, VALUE INVESTING, INVESTING


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