The Value Hunter Seth Klarman Searches For Bargains — Barron's 1991 Interview – Spinoffs
Continued from part two. Moving away from distressed debt, Seth Klarman started to discuss a traditional Graham and Dodd value play that he was currently interested in. The company in question was called Esco Electronics, a spinoff from Emerson Electric. Image: Logo Seth Klarman: True value Esco Electronics was a traditional value play that was trading at such a deep discount to book, it was difficult to pass up the opportunity. Indeed, at the time Esco was trading at only 8% of book value, had over 6,000 employees working over three million square feet of space, generating over $500 million...
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