Quote

In reality, no one knows what the market will do trying to predict it is a waste of time, and investing based upon that prediction is a speculative undertaking.

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
Market
Waste
Speculative
Based
Prediction
Upon
Undertaking
Reality
Undertakings
Trying
Predict
Time
Predictions
Investing

More quotes by Seth Klarman

Image
We are big fans of fear, and in investing it is clearly better to be scared than sorry.
Seth Klarman
Image
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.
Seth Klarman
Image
While it might seem that anyone can be a value investor, the essential characteristics of this type of investor-patience, discipline, and risk aversion-may well be genetically determined.
Seth Klarman
Image
There are only a few things investors can do to counteract risk: diversify adequately, hedge when appropriate, and invest with a margin of safety. It is a precisely because we do not and cannot know all the risks of an investment that we strive to invest at a discount. The bargain element helps to provide a cushion for when things go wrong.
Seth Klarman
Image
Generally, the greater the stigma or revulsion, the better the bargain.
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
It turns out that value investing is something that is in your blood. There are people who just don't have the patience and discipline to do it, and there are people who do. So it leads me to think it's genetic.
Seth Klarman
Image
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.
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
Hold cash when opportunities are not presenting themselves.
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
Having great clients is the key to investment success.
Seth Klarman
Image
The overwhelming majority of people are comfortable with consensus, but successful investors tend to have a contrarian bent.
Seth Klarman
Image
The cost of performing well in bad times can be relative underperformance in good times.
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
Image
Individual and institutional investors alike frequently demonstrate an inability to make long-term investment decisions based on business fundamentals.
Seth Klarman
Image
When people give away stocks based on forced selling or fear that is usually a great opportunity.
Seth Klarman
Image
If you can remember that stocks aren't pieces of paper that gyrate all the time --they are fractional interests in businesses -- it all makes sense.
Seth Klarman
Image
Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.
Seth Klarman
Image
Investment success cannot be captured in a mathematical equation or a computer program.
Seth Klarman