Quote

Generally, the greater the stigma or revulsion, the better the bargain.

Seth Klarman

Change background

T
T
T

Change font

TAGS & TOPICS

Seth Klarman
Age: 67
Born: 1957
Born: May 21
New York City
New York
Seth Andrew Klarman
Intelligent
Greater
Better
Revulsion
Bargain
Stigma
Bargains
Investing
Generally

More quotes by Seth Klarman

Image
At equal returns, public investments are generally superior to private investments not only because they are more liquid but also because amidst distress, public markets are more likely than private ones to offer attractive opportunities to average down.
Seth Klarman
Image
Interestingly, we have beaten the market quite handsomely over this time frame, although beating the market has never been our objective. Rather, we have consistently tried not to lose money and, in doing so, have not only protected on the downside but also outperformed on the upside.
Seth Klarman
Image
Typically, we make money when we buy things. We count the profits later, but we know we have captured them when we buy the bargain.
Seth Klarman
Image
Once you adopt a value-investment strategy, any other investment behavior starts to seem like gambling.
Seth Klarman
Image
When a stock is selling at a discount to liquidation value per share, a near rock-bottom appraisal, it is frequently an attractive investment.
Seth Klarman
Image
Investing today may well be harder than it has been at any time in our three decades of existence.
Seth Klarman
Image
When a Wall Street analyst or broker expresses optimism, investors must take it with a grain of salt.
Seth Klarman
Image
Having clients with a long-term orientation is crucial. Nothing else is as important to the success of an investment firm.
Seth Klarman
Image
Avoiding where others go wrong is an important step in achieving investment success. In fact, it almost assures it.
Seth Klarman
Image
The government can indefinitely control both short-term and long-term interest rates.
Seth Klarman
Image
Value investing by its very nature is contrarian.
Seth Klarman
Image
While some might mistakenly consider value investing a mechanical tool for identifying bargains, it is actually a comprehensive investment philosophy that emphasizes the need to perform in-depth fundamental analysis, pursue long-term investment results, limit risk, and resist crowd psychology.
Seth Klarman
Image
We don't deal in absolutes. We deal in probabilities.
Seth Klarman
Image
Why should the immediate opportunity set be the only one considered, when tomorrow's may well be considerably more fertile than today's?
Seth Klarman
Image
In contrast to the speculators preoccupation with rapid gain, value investors demonstrate their risk aversion by striving to avoid loss.
Seth Klarman
Image
Never stop reading. History doesn't repeat, but it does rhyme.
Seth Klarman
Image
The near absence of bargains works as a reverse indicator for us. When we find there is little worth buying, there is probably much worth selling.
Seth Klarman
Image
Having great clients is the key to investment success.
Seth Klarman
Image
If only one word is to be used to describe what Baupost does, that word should be: 'Mispricing'. We look for mispricing due to over-reaction.
Seth Klarman
Image
Do not trust financial market risk models. Despite the predilection of some analysts to model the financial markets using sophisticated mathematics, the markets are governed by behavioral science, not physical science.
Seth Klarman