In life, very little is certain, but one thing we can always count on is change. For many people, resisting change is a core part of their personality, but it’s important to remember that without change, there is no growth.
In a recent conference hosted by the Harvard Investment Club, Seth Klarman of Baupost spoke on many different topics, including some warnings for the current market and his ideas about handling change. He believes one thing that makes him a successful investor is the fact that he realizes the world is changing and can adapt to those changes.
Change at a rapid-fire pace
Klarman also noted that the world today is changing much faster than ever before, and sometimes those changes are so extreme that it feels like the rug is being pulled out from under you. He added that it’s important to be thoughtful about what sorts of things you count on as the changes come faster and faster than ever before.
In fact, he believes the world is threatening to change even faster than it has already been changing due to artificial intelligence. As a result, he feels it’s important that businesspeople “be on their front foot,” realizing that things are likely to be different as soon as tomorrow.
As a result, Klarman said it’s critical to figure out what you can
