Seth Klarman

Seth Klarman

Last Update: 10-10-2017

Number of Stocks: 39
Number of New Stocks: 3

Total Value: $8,697 Mil
Q/Q Turnover: 12%

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

A Fond Farewell After 100 articles, it's time to hear new voices
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 a 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. 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...
Why Equities Are Not Overvalued Seth Klarman excoriates common investors for being 'yield pigs' blindly piling into common stock
The Most Important Stock Investment Lesson I Ever Learned Do not base investment decisions on stocks based on short-term price volatility
My investing career officially started in 1970, but for several years prior to that time I was an avid and interested student of common stock investing. My initial lessons were taught by studying the behavior and practices of the most renowned stock investors. Read more...
You Won't Guess Seth Klarman's Biggest Position With the CAPE ratio at its 2nd-highest level ever, what is the bearish Klarman doing?
Baupost Group's largest U.S. equity positions are Cheniere Energy (LNG), Synchrony Financial (NYSE:SYF) and Viasat (NASDAQ:VSAT). Seth Klarman (Trades, Portfolio) allocated 11.6%, 10.04% and 10.02% of his portfolio to just these three names. Cheniere is a liquefied natural gas exporter whose revenue is based on 20-year-long contracts with big oil companies. Synchrony Financial is a credit card processing company. Viasat is a sattelite company with subscribers like the government, the military and airlines. You could say these appear to be fairly defensive positions with locked-in revenue streams. His largest position, however, cash, makes up 42% of the entire portfolio. If we ignore for a moment Baupost may have global positions and private real estate investments, more than 70% of the portfolio is invested extremely defensively. I have identified three reasons why. Read more...
» More Seth Klarman Articles

Commentaries and Stories

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Thoughts on the Margin of Safety There's more to this vital value investing principle than meets the eye Warren Buffett, Seth Klarman - Thoughts On The Margin Of Safety
The margin of safety is an essential principle of value investing. More...

VALUE INVESTING, MARGIN OF SAFETY, WARREN BUFFETT, VALUE


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Time to Consider a Barbell Portfolio? A barbell portfolio combines 'risk-free' investments with very aggressive ones Warren Buffett,Seth Klarman - Time To Consider A Barbell Portfolio?
More...

LONG, BITCOIN, CRYPTOCURRENCY,


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Is It Time to Follow Seth Klarman and Cash Out? Seth Klarman is returning cash to investors Seth Klarman - Is It Time To Follow Seth Klarman And Cash Out?
More...

SETH KLARMAN, VALUE INVESTING, VALUE, VALUE STOCKS, BAUPOST, CASH


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Is There Hidden Value in These Klarman-Backed SPACs? Seth Klarman has stakes in 3 SPACs, indicating that he believes their futures are bright Seth Klarman - Is There Hidden Value In These Klarman-Backed SPACs?
Seth Klarman (Trades, Portfolio)’s investment portfolio is full of exciting ideas. More...

SILVER RUN ACQUISITION CORP, CONYERS PARK ACQUISITION CORP, SABAN CAPITAL ACQUISITION CORP, SETH KLARMAN, VALUE INVESTING


  • Currently 5.00/5

Rating: 5.0/5 (5 votes)

-3.9% Annualized Return for the Next 7 Years: Any Takers? Asset class forecasts are very bleak and well-known superinvestors are sounding the alarm and tempering expectations Howard Marks,Seth Klarman,Paul Tudor Jones,Ray Dal - -3.9% Annualized Return For The Next 7 Years: Any Takers?
More...

LONG, INSIDER BUYING,


  • Currently 4.83/5

Rating: 4.8/5 (6 votes)

You Won't Guess Seth Klarman's Biggest Position With the CAPE ratio at its 2nd-highest level ever, what is the bearish Klarman doing? Seth Klarman - You Won't Guess Seth Klarman's Biggest Position
Baupost Group's largest U.S. equity positions are Cheniere Energy (LNG), Synchrony Financial (NYSE:SYF) and Viasat (NASDAQ:VSAT). Seth Klarman (Trades, Portfolio) allocated 11.6%, 10.04% and 10.02% of his portfolio to just these three names. Cheniere is a liquefied natural gas exporter whose revenue is based on 20-year-long contracts with big oil companies. Synchrony Financial is a credit card processing company. Viasat is a sattelite company with subscribers like the government, the military and airlines. You could say these appear to be fairly defensive positions with locked-in revenue streams. His largest position, however, cash, makes up 42% of the entire portfolio. If we ignore for a moment Baupost may have global positions and private real estate investments, more than 70% of the portfolio is invested extremely defensively. I have identified three reasons why. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

The Best Value Investing Quotes Quotes from some of the best value investors who ever lived Warren Buffett,Seth Klarman,Charlie Munger,David H - The Best Value Investing Quotes
There have been many value investors who have earned a good reputation for themselves over the years. From Warren Buffett (Trades, Portfolio) to Walter Schloss and Peter Cundill all of these investors had their own styles but followed the main principles of value investing as laid out by Benjamin Graham. More...

WARREN BUFFETT, IRVING KAHN, WALTER SCHLOSS, MICHAEL BURRY


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Meet GURUG, GURUF’s New Cousin You can now retrieve guru portfolio information using user-defined Excel functions Warren Buffett, Seth Klarman - Meet GURUG, GURUF’s New Cousin
We are proud to introduce GURUF’s new cousin, GURUG. More...

NEW FEATURE ANNOUNCEMENT, WARREN BUFFETT, SETH KLARMAN


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Could Buffett and Klarman Be Wrong on Synchrony? Will higher charge-offs cost Buffett and Klarman? Warren Buffett,Seth Klarman - Could Buffett And Klarman Be Wrong On Synchrony?
Last month, Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) reported a small (small by Berkshire standards) $512 million holding in credit company Synchrony Financial (NYSE:SYF) following highly acclaimed value investor Seth Klarman (Trades, Portfolio) into the stock. More...

SETH KLARMAN, VALUE, VALUE INVESTING, VALUE STOCKS, WARREN BUFFETT, BERKSHIRE HATHAWAY


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Why You Can’t Trust EBITDA Buffett and Klarman discuss why they don't use this metric Warren Buffett, Seth Klarman - Why You Can’t Trust EBITDA
The earnings before interest tax depreciation and amortization metric, or EBITDA, splits opinions. On one hand, there are those analysts and investors who hate using EBITDA because it provides a misrepresentation of the company's finances. On the contrary, for businesses with high capital spending requirements and interest costs, some analysts will claim this metric is a more appropriate representation of its growth. EBITDA has also been proven to be a strong determining factor of value when combined with enterprise value. The metric is commonly used to judge a company's level of gearing, giving a simple and easy to understand picture of leverage. More...

SETH KLARMAN, VALUE INVESTING, WALTER SCHLOSS, VALUE, WARREN BUFFETT, MARGIN OF SAFETY


  • Currently 4.00/5

Rating: 4.0/5 (3 votes)

What Do Buffett and Klarman See in Synchrony? The financial services company has attracted attention despite its rocky year Warren Buffett, Seth Klarman - What Do Buffett And Klarman See In Synchrony?
I recently wrote about Seth Klarman (Trades, Portfolio)’s interest in Synchrony Financial (NYSE:SYF), the financial services company that has seen its share price suffer this year thanks to higher reported loan impairments. More...

SETH KLARMAN, VALUE, VALUE INVESTING, VALUE STOCKS, WARREN BUFFETT, BERKSHIRE HATHAWAY


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Seth Klarman Bulks Up on Synchrony Despite Problems Guru made some unusual portfolio movements during the 2nd quarter Seth Klarman - Seth Klarman Bulks Up On Synchrony Despite Problems
Seth Klarman (Trades, Portfolio), who is arguably one of the best value investors alive today, had a busy second quarter. The billionaire owner of hedge fund Baupost Group made several large position changes during the period, some of which are surprising. More...

SETH KLARMAN, VALUE, VALUE INVESTING, VALUE STOCKS


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Investing Giant Seth Klarman Reveals Latest Stock Buys Second quarter portfolio is reported Seth Klarman - Investing Giant Seth Klarman Reveals Latest Stock Buys
Seth Klarman (Trades, Portfolio), a much-followed value investor, said Friday evening that he had purchased three positions in the latest second quarter, according to a filing. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Wells Fargo: Hedge Funds' Most Loved Stock Of 64 hedge funds, 20 have a position in the bank Seth Klarman, Daniel Loeb, Tom Gayner, Warren Buff - Wells Fargo: Hedge Funds' Most Loved Stock
Following a guru investor into a position without doing your own research is never a good idea. Wsing guru holdings as a starting point for further research can be extremely helpful, however, especially considering these investors have significantly more resources than you do. More...

VALUE, VALUE INVESTING, INVESTING


  • Currently 4.00/5

Rating: 4.0/5 (1 vote)

An Under-the-Radar Tech Play Gurus have been buying this tech company Seth Klarman,Daniel Loeb,Caxton Associates,Julian  - An Under-the-Radar Tech Play
Qualcomm (NASDAQ:QCOM) is widely held by gurus. Recent converts include Seth Klarman (Trades, Portfolio), Daniel Loeb, Caxton Associates (Trades, Portfolio) and Julian Robertson (Trades, More...

LONG, TECH


  • Currently 4.72/5

Rating: 4.7/5 (18 votes)

Some Thoughts on Holding Cash As markets reach record highs, investors have questioned whether it makes sense to continue holding cash Howard Marks,Seth Klarman,Charlie Munger,Warren Bu - Some Thoughts On 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. More...

NONE


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Quotes From 2 of the World's Greatest Value Investors Wisdom from Benjamin Graham and Seth Klarman Seth Klarman - Quotes From 2 Of The World's Greatest Value Investors
To continue from my earlier piece on Benjamin Graham, I have picked out some nuggets of wisdom from "The Intelligent Investor" as well as tips from Seth Klarman (Trades, Portfolio)'s book, "Margin of Safety." More...

WARREN BUFFETT, BENJAMIN GRAHAM, VALUE, VALUE INVESTING, RISK, REWARD


  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

The Magic of Compounding Famous investors' thoughts on concept Warren Buffett,Seth Klarman,Charlie Munger,John Pa - The Magic Of Compounding
Once described as the eighth wonder of the world, the miracle of compounding is one of the most important concepts in investing. If you don't understand how compounding works and how it can accelerate your investment returns, I highly recommend you spend some time researching the topic right away; you won't regret it. More...

VALUE, COMPOUNDING, VALUE INVESTING


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

The Art & Science of Successful Investing For those veterans incorporating a disciplined, systematic approach that integrates the artistic and scientific aspects of investing, exceptional long-term returns can be achieved Warren Buffett,Seth Klarman - The Art & Science Of Successful Investing
As I described in my book, "How I Managed $20,000,000,000.00 by Age 32," I believe successful investing is achieved by integrating aspects of both art and science. The science aspect of investing is fairly straightforward – most of the accounting and valuation math involved could be solved by a 7th grader. The more challenging aspect to successful investing is controlling the vacillating emotions of fear and greed when searching for attractive investments. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Mr. Market: Who Is He and What Is He Doing Here? Some insight on Mr. Market and how he can impact your investment process Warren Buffett,Seth Klarman,Charlie Munger,Mohnish - Mr. Market: Who Is He And What Is He Doing Here?
The parable of Mr. Market was first introduced in Benjamin Graham’s "The Intelligent Investor," and this idea that the market is an irrational businessman has been used to describe investor psychology and market movements ever since. More...

VALUE, VALUE INVESTING, WARREN BUFFETT, BENJAMIN GRAHAM


Add Notes, Comments

If you want to ask a question or report a bug, please create a support ticket.

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK