“Value investing requires a great deal of hard work, unusually strict discipline, and a long-term investment horizon. Few are willing and able to devote sufficient time and effort to become value investors, and only a fraction of those have the proper mind-set to succeed.” — Seth Klarman
Seth Klarman is the chief executive and portfolio manager of the Baupost Group, the Boston-based hedge fund he founded in 1982. Today, Baupost has around $27 billion of assets under management, and Klarman is widely considered to be one of the best value investors of all time.
According to data compiled by Bloomberg, Baupost is the fourth most profitable hedge fund of all time and has achieved annualised returns for investors in the region of 20% since inception.
As well as managing Baupost, Klarman also authored the book, Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor. Published in 1991, this book has since become a Bible for value investors around the world.
Below is my Seth Klarman resource achieve. This is a collection of articles, essays, notes and interviews from around the internet I’ve collected over the years.
Letters to investors
PDFs and documents
Oid Interview March 2009 (Link)
1991 Interview (Link)
2009 TIFF Interview (Link)
Seth Klarman Videos
Leadership in Investing and Life (YouTube)