Baupost Group - Market psychology
It seems Baupost exited 2014 preparing for a bear market. This is something that has been covered in a previous ValueWalk piece, here, so I won’t go over the topic again. Nonetheless, Seth Klarman's letter contains some interesting commentary regarding the psychology of analysts in bear markets. While we may, or may not be heading into a bear market right now, this is advice is certainly worth paying attention to and keeping in the back of your mind.
“In past bear markets, I have noticed some of our analysts self-censoring when they come across new investments. Analysts, especially those with...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full ArticleAlready a member? Log in here
