When it comes to investing, the one thing that Seth Klarman is seeking to avoid at all costs is taking a loss. His entire investment process is built around the desire never to have to take a permanent capital impairment. He makes this quite clear throughout his letters to investors, lectures, interviews and his book, The Margin of Safety.
Q3 hedge fund letters, conference, scoops etc
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Whenever he speaks on this topic, I think it always pays to listen. Klarman has spent decades refining his art, and he is today one of the...

