Quote

We continue to adhere to a common-sense view of risk - how much we can lose and the probability of losing it. While this perspective may seem over simplisticor even hopelessly outdated, we believe it provides a vital clarity about the true risks in investing.

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
True
View
Provides
Seems
Seem
Risks
May
Lose
Vital
Even
Risk
Clarity
Much
Views
Investing
Adhere
Believe
Loses
Continue
Hopelessly
Common
Perspective
Outdated
Sense
Losing
Probability

More quotes by Seth Klarman

Image
When you buy bargains and they become better bargains, it is easy to start to question yourself, which can impair your judgement. Real or imagined concerns about client redemptions, employee defections can greatly influence behavior away from rational.
Seth Klarman
Image
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.
Seth Klarman
Image
There is no amount of bad news that the markets cannot see past.
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
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
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
Individual and institutional investors alike frequently demonstrate an inability to make long-term investment decisions based on business fundamentals.
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
The inability to hold cash and the pressure to be fully invested at all times meant that when the plug was pulled out of the tub, all boats dropped as the water rushed down the drain.
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
The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.
Seth Klarman
Image
The cost of performing well in bad times can be relative underperformance in good times.
Seth Klarman
Image
A value strategy is of little use to the impatient investor since it usually takes time to pay off.
Seth Klarman
Image
It sounds kind of crazy, but in times of turmoil in the market, I've felt a sort of serenity in knowing that I've checked and re-checked my work, one plus one still equals two regardless of where a stock trades right after I buy it.
Seth Klarman
Image
The single greatest edge an investor can have is a long-term orientation.
Seth Klarman
Image
Excess capacity in people, machines, or property will be quickly absorbed.
Seth Klarman
Image
The government can indefinitely control both short-term and long-term interest rates.
Seth Klarman
Image
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.
Seth Klarman
Image
Never stop reading. History doesn't repeat, but it does rhyme.
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