Risk is the most critical topic in the world of investing. However, many investors often fail to give risk the appropriate amount of time and consideration when constructing their portfolio. For Seth Klarman, the value investor and hedge fund manager, limiting risk has always been the most important factor when finding and analyzing investments. Klarman runs the Boston-based hedge fund Baupost. The fund has an unconstrained mandate and seeks to achieve positive absolute returns throughout the market cycle. For Klarman, this means protecting capital at all costs and not chasing growth at the expense of downside protection. Q2 2023 hedge…
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