Baupost’s Klarman Outlines 2018’s “Global Disappointment” Amid The Change From Cheer to Fear

All good things must end, but it seems like much of the world was willfully ignorant of the signs that harder times are just around the corner. In his recent letter to investors, which was obtained by ValueWalk, Baupost’s Seth Klarman describes 2018 as “a year of synchronized global disappointment.” He then proceeds to highlight the many warning signs the markets ignored throughout much of the year.

Q4 hedge fund letters, conference, scoops etc

See more Baupost 2018 coverage here

• Seth Klarman 2018 Letter: Balancing Risk Aversion With Risk-Taking
• When Forever Ends: Baupost’s Klarman Reflects On 2018

From cheer to fear

Klarman noted that at the beginning of 2018,...