Seth Klarman - Investment Philosophy
The investment philosophy and approach of Seth Klarman.
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Seth Klarman - Investment Philosophy
Investment Criteria
- Price — Must be significantly below value
- Catalyst — Should exist for value realization
- Risk — Downside must be limited
- Time — Willing to wait for years
Portfolio Construction
- Concentrated (20-30 positions)
- High conviction
- Variable cash positions
- Opportunistic entries/exits
Summary
Founder of Baupost Group and one of the most successful value investors of the past 40 years, known for his concentrated, opportunistic approach and prescient warnings about market bubbles.
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