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A value strategy is of little use to the impatient investor since it usually takes time to pay off.

Seth Klarman

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Seth Klarman
Age: 67
Born: 1957
Born: May 21
New York City
New York
Seth Andrew Klarman
Pay
Takes
Since
Investor
Values
Impatient
Use
Investors
Littles
Strategy
Little
Usually
Time
Value

More quotes by Seth Klarman

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In a rising market, everyone makes money and a value philosophy is unnecessary. But because there is no certain way to predict what the market will do, one must follow a value philosophy at all times.
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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.
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The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.
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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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Hold cash when opportunities are not presenting themselves.
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We are big fans of fear, and in investing it is clearly better to be scared than sorry.
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Once you adopt a value-investment strategy, any other investment behavior starts to seem like gambling.
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Be indifferent if you lose your short term clients, remember they are your own worst enemy
Seth Klarman
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Be focused on process and not outcome
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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.
Seth Klarman
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Pressure to produce over the short term - a gun to the head of everyone - encourages excessive risk taking which manifests itself in several ways - fully invested posture at all times, the use of leverage, and a market centric orientation that makes it difficult to stand apart from the crowd and take a long term perspective.
Seth Klarman
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Never stop reading. History doesn't repeat, but it does rhyme.
Seth Klarman
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Investors need to pick their poison: Either make more money when times are good and have a really ugly year every so often, or protect on the downside and don't be at the party so long when things are good.
Seth Klarman
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Successful investors must temper the arrogance of taking a stand with a large dose of humility, accepting that despite their efforts and care, they may in fact be wrong.
Seth Klarman
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There is no amount of bad news that the markets cannot see past.
Seth Klarman
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When a government official says a problem has been contained, pay no attention.
Seth Klarman
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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.
Seth Klarman
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Patience and discipline can make you look foolishly out of touch until they make you look prudent and even prescient
Seth Klarman
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Value investing is predicated on the efficient market hypothesis being wrong.
Seth Klarman
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Value investing by its very nature is contrarian.
Seth Klarman