According to Seth Klarman’s 2018 letter to investors (stay tuned for more coverage), despite the “treacherous” market environment of 2018, his hedge fund, the Boston-based Baupost, “successfully protected” investors’ capital, a result that is undoubtedly a determination of the firm’s desire to limit risk above all else. The art of portfolio management is balancing risk aversion with risk-taking Klarman opines in his year-end letter to investors. In uncertain markets dominated by speculation, uncertainty, and technological disruption, investors are like “sailors” navigating the “turbulent” waters between “Scylla and Charybdis,” the monsters that inhabit the Straits of Messina, the narrow sea between…
Seth Klarman 2018 Letter: Balancing Risk Aversion With Risk-Taking
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 ValueWalk