In a Q&A session with students of the Ivey Business School in 2009, Klarman explained how Baupost's arduous risk assessment process helped weed out the best opportunities on offer at the time. This is part two of a two-part series on this discussion of risk. You can find part one here.
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Klarman: The difference between risk and volatility
After briefly running over Baupost's risk analysis process, the Margin of Safety author went on to talk about how he views risk compared to the rest of the market, and why just because an asset has become cheaper, does not mean...
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