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Lessons From Seth Klarman’s 1994 Letter

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Rupert Hargreaves
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Like the majority of Baupost's investor correspondence over the years, Baupost's 1994 year-end  letter contains some valuable insights. However, the year-end letter is difficult to get hold of in full, although ValueWalk has a copy and some analysis. The 1994 letter is also a gem and we recently saw a copy for the first time.

The market of 1994 has many parallels with today's market environment.

1994 saw a surprise rate hike by the Federal Reserve and the following panic hammered hedge funds, credit funds and foreign exchange...

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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 Hedge Fund Alpha