[Q4 Letter] Seth Klarman Sticks To Value Strategy In Market Functioning Like “ATM”

Rupert Hargreaves

Published onJanuary 23, 2020

Updated on January 5, 2021

Seth Klarman's Boston-based hedge fund Baupost ended 2019 on a high note.

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According to a copy of the hedge fund's fourth quarter and full-year 2019 letter to investors, which has been reviewed by ValueWalk, the Baupost partnerships posted high single-digit gains for 2019.

Also see Klarman’s thoughts from the letter on

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However, despite this positive performance, Klarman and his team still underperform the market in 2019. For the year, the S&P 500 returned 31.5% thanks, in part, to the performance of high growth tech stocks such as Amazon, Apple, and Microsoft.

At the time of publication, Baupost declined to comment on the matter to ValueWalk.

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Rupert Hargreaves

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

[Q4 Letter] Seth Klarman Sticks To Value Strategy In Market Functioning Like “ATM”

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