Seth Klarman

Seth Klarman

Last Update: 02-13-2018

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...
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...
7 Quotes That Sum Up Buffett's Entire Strategy Insight into how the average investor should look for value and high-quality investments
Warren Buffett (Trades, Portfolio) is the world’s greatest and most prominent value investor.Unlike other highly successful value investors, such as Seth Klarman (Trades, Portfolio), Buffett spends a large amount of time doing interviews. There have also been thousands of articles written about him and possibly hundreds of books. Read more...
» More Seth Klarman Articles

Commentaries and Stories

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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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Is Seth Klarman Giving Up on Value? Is the guru's shift in style a sign he has given up on the strategy? Seth Klarman - Is Seth Klarman Giving Up On Value?
As one of the world’s most respected value investors, the last place you would expect to find Seth Klarman (Trades, Portfolio) investing is in the unicorn space. But that is precisely where he is now looking for value, according to excerpts of his most recent letter to investors as published in the Wall Street Journal. More...

SETH KLARMAN, VALUE, VALUE INVESTING


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Rating: 4.5/5 (2 votes)

Flexibility and Intrinsic Value Benjamin Graham on the concept of flexible intrinsic value Glenn Greenberg, Seth Klarman - Flexibility And Intrinsic Value
Intrinsic value is an interesting concept. I say concept because it is an idea that has no specific method. Every group of investors (as defined by style, growth, value, momentum, etc.) will value a stock according to certain similar principles, but its highly unlikely that any two investors, even those that fall into the same style bucket, will arrive at precisely the same valuation. More...

GRAHAM, VALUE INVESTING, VALUE STOCKS


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David Abrams: A Seth Klarman Disciple Makes It on His Own Does he still outperform 97% of all hedge fund managers? David Abrams,Seth Klarman - David Abrams: A Seth Klarman Disciple Makes It On His Own
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DAVID ABRAMS, ABRAMS CAPITAL MANAGEMENT, HEDGE FUND, GURU, SETH KLARMAN, BAUPOST, OAKLAND RAIDERS, ALTERNATIVE INVESTMENT FUND, RIVA FUNDS, VALUE INVEST, INTRINSIC VALUE, RISK MANAGEMENT, GLOBAL MACRO


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How to Make a Million: Don't Lose Money Saving and investing is just part of the process you need to make a million Seth Klarman - How To Make A Million: Don't Lose Money
Alex Garcia’s recent article on how to make a million nailed a crucial point most investors fail to recognize. Put simply: Most investors fail to understand that it is easy to create wealth if you have a rigorous savings and investment plan in place. More...

WARREN BUFFETT, SETH KLARMAN, VALUE, VALUE INVESTING, MAKE A MILLION


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How to Act in a Bear Market: Part 2 More advice from Seth Klarman Seth Klarman - How To Act In A Bear Market: Part 2
Last week, I wrote an article discussing a valuable piece of advice from Seth Klarman (Trades, Portfolio) on how to act in falling markets. More...

VALUE, VALUE INVESTING, SETH KLARMAN


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Seth Klarman on Passive Investing He is not a fan of the strategy Seth Klarman, Warren Buffett - Seth Klarman On Passive Investing
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. More...

PASSIVE INVESTING, ACTIVE INVESTING, SETH KLARMAN, VALUE INVESTING


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Seth Klarman Pares PBF Energy Inc. Refiner pressured by regulatory battle in Washington Seth Klarman - Seth Klarman Pares PBF Energy Inc.
Seth Klarman (Trades, Portfolio), head of Boston-based hedge fund Baupost Group, sliced 4.8 million shares from his holding of PBF Energy (NYSE:PBF) on Nov. 30, making it his most significant sale since starting the position in the third quarter of 2013. More...

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The Benefits of Holding Cash Seth Klarman discusses the benefits of holding cash Seth Klarman - The Benefits Of Holding Cash
Seth Klarman (Trades, Portfolio) is one of the best value investors in history. Since its founding in 1982, Baupost Group has achieved high-teens returns for investors every year. More...

VALUE, VALUE INVESTING, SETH KLARMAN


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Seth Klarman: How to Act in a Bear Market Advice from the renowned value investor Seth Klarman - Seth Klarman: How To Act In A Bear Market
In today’s market, after nearly a decade of low volatility and steadily rising stock prices, it is easy to forget the turmoil that gripped the stock market, and the world, in 2008-09. More...

SETH KLARMAN, VALUE, VALUE INVESTING


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Seth Klarman Sells Qualcomm, Reduces Dell-VMWare, Avis Positions Baupost Group’s largest sales of the 3rd quarter Seth Klarman - Seth Klarman Sells Qualcomm, Reduces Dell-VMWare, Avis Positions
Seth Klarman (Trades, Portfolio) is the portfolio manager of the Baupost Group, a hedge fund founded in 1982. During the third quarter, he trimmed or exited the following positions: More...

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Seth Klarman's Bite-Sized 'Margin Of Safety': Part 4 The fourth and final part of the mini-series on the classic book Seth Klarman - Seth Klarman's Bite-Sized 'Margin Of Safety': Part 4
This is the fourth part of a four-part series on some of the best lessons contained within Seth Klarman (Trades, Portfolio)’s highly acclaimed book, "Margin of Safety." More...

VALUE, VALUE INVESTING, SETH KLARMAN


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Seth Klarman's Bite-Sized 'Margin of Safety': Part 3 The third installment of a discussion on the guru's book Seth Klarman, Warren Buffett - Seth Klarman's Bite-Sized 'Margin Of Safety': Part 3
The third part of series on some of the best lessons contained within Seth Klarman (Trades, Portfolio)’s highly acclaimed book, "Margin of Safety." More...

SETH KLARMAN, VALUE, VALUE INVESTING, INVESTING


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Seth Klarman's Bite-Sized 'Margin Of Safety' Part 2 The second of a two-part series Seth Klarman - Seth Klarman's Bite-Sized 'Margin Of Safety' Part 2
The second of a two-part series on some of the best lessons contained within Seth Klarman (Trades, Portfolio)’s highly acclaimed book, "Margin of Safety." More...

SETH KLARMAN, VALUE, VALUE INVESTING, MARGIN OF SAFETY


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Seth Klarman's Bite-Sized 'Margin Of Safety': Part 1 A breakdown of the guru's book Seth Klarman - Seth Klarman's Bite-Sized 'Margin Of Safety': Part 1
Seth Klarman (Trades, Portfolio)’s "Margin of Safety" is one of the best and most highly valued investment books of all time. There are many key takeaways from the text and advice that will help you shape and build a value investing strategy. More...

SETH KLARMAN, VALUE INVESTING, VALUE STOCKS


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After Buffett Adds to Synchrony, Company Rewards Him The company announced a huge acquisition Warren Buffett, Seth Klarman - After Buffett Adds To Synchrony, Company Rewards Him
It is that time of the year again. Over the past week, the 13F filings of the world’s best investors have been published, revealing the holdings they bought, sold and maintained in the third quarter. More...

WARREN BUFFETT, SYNCHRONY FINANCIAL, VALUE INVESTING, INVESTING


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Klarman's Top Buys for the 3rd Quarter The guru added 4 stocks to his portfolio Seth Klarman - Klarman's Top Buys For The 3rd Quarter
Seth Klarman (Trades, Portfolio)’s Baupost Group did not make many portfolio changes during the third quarter, but the positions added were, as always, interesting. More...

SETH KLARMAN, VALUE, VALUE INVESTING, AMC ENTERTAINMENT, MCKESSON


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