At the beginning of October, it was reported that Seth Klarman’s hedge fund Baupost, had acquired just under $1 billion of Puerto Rican debt (COFINA bonds — municipal bonds issued by an entity created by the Commonwealth of Puerto Rico in 2006 to securitize future sales tax receipts), a revelation that attracted some interesting responses, which prompted a discussion of the topic in the recent Baupost Q3 Letter, unusual for the secretive hedge fund (in our opinion). [klarman] Q3 Hedge Fund Letters – Maverick Capital Details Its Favorite Shorts, Baupost acquired the debt through an on-paper Delaware-based corporation named Decagon Holdings…
Klarman Tells Investors That COFINA Recovery Is Essential For Puerto Rico Success
Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for ValueWalk