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Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.

Seth Klarman

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Seth Klarman
Age: 67
Born: 1957
Born: May 21
New York City
New York
Seth Andrew Klarman
Sleep
Ability
Night
Nothing
Important
Soundly
Investors
Ultimately

More quotes by Seth Klarman

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Avoiding where others go wrong is an important step in achieving investment success. In fact, it almost assures it.
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We don't deal in absolutes. We deal in probabilities.
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Hold cash when opportunities are not presenting themselves.
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Having clients with a long-term orientation is crucial. Nothing else is as important to the success of an investment firm.
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My view is that an investor is better off knowing a lot about a few investments than knowing a little about each of a great many holdings. One's very best idea's are likely to generate higher returns for a given level of risk than one's hundredth or thousandth best idea.
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A commodity doesn't have the same characteristics as a security, characteristics that allow for analysis. Other than a recent sale or appreciation due to inflation, analyzing the current or future worth of a commodity is nearly impossible.
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Be focused on process and not outcome
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As Graham, Dodd and Buffett have all said, you should always remember that you don't have to swing at every pitch. You can wait for opportunities that fit your criteria and if you don't find them, patiently wait. Deciding not to panic is still a decision.
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Analysts recommendations may not produce good results. In part this is due to the pressure placed on these analysts to recommend frequently rather than wisely.
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It is crucial in a sound investment process to search a mile wide than a mile deep with they find something - also.. never stop digging for information.
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The overwhelming majority of people are comfortable with consensus, but successful investors tend to have a contrarian bent.
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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.
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Excess capacity in people, machines, or property will be quickly absorbed.
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Investing today may well be harder than it has been at any time in our three decades of existence.
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In contrast to the speculators preoccupation with rapid gain, value investors demonstrate their risk aversion by striving to avoid loss.
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Almost every financial blow up is because of leverage.
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People should be highly sceptical of anyone's including their own, ability to predict the future, and instead pursue strategies that can survive whatever may occur.
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Never stop reading. History doesn't repeat, but it does rhyme.
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There is no amount of bad news that the markets cannot see past.
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Having great clients is the key to investment success.
Seth Klarman