Seth Klarman
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Seth Klarman is the founder and president of The Baupost Group, a Boston-based private investment partnership, and the author of a book on value investing. Klarman is notable for his willingness to hold significant amounts of cash in his investment portfolios, sometimes in excess of 50% of the total[1]. In 1991, Klarman authored Margin of Safety, Risk Averse Investing Strategies for the Thoughtful Investor, which since has become a value investing classic. Now out of print, Margin of Safety has sold on Amazon for $1,200 and eBay for $2,000.[2] Before founding Baupost, Klarman worked for Max Heine and Michael Price of the Mutual Shares fund (now a part of Franklin Templeton Investments).
Klarman is a graduate of Cornell University and Harvard Business School. [3]
At Cornell, he was a member of the Delta Chi fraternity, where he commonly studied while watching TV in the fraternity library/TV room. Despite this unorthodox study style, he achieved Phi Beta Kappa.
[edit] References
- ^ The Wharton Journal 12/5/05
- ^ The $700 Used Book. (2006, Aug. 7). BusinessWeek, Personal Finance section. Accessed 11-11-2008.
- ^ Fabrikant, Geraldine. (2007, May 13). Manager Frets Over the Market, but Still Outdoes It. New York Times, Investment section. Accessed on 10-25-2008.
[edit] Further reading
- Klarman, Seth (2007). Remarks at MIT (PDF). Website of Redfield, Blonsky & Co., LLC. Accessed 11-11-2008.
- [1] Seth Klarman interview by Alpha
- [2] Excerpts from 2005 Baupost Group Letter
- [3] Seth Klarman video conference at Ben Graham Center for Value Investing
- [4] Seth Klarman featured in Outstanding Investor's Digest March 2009
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