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When people give away stocks based on forced selling or fear that is usually a great opportunity.

Seth Klarman

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Seth Klarman
Age: 67
Born: 1957
Born: May 21
New York City
New York
Seth Andrew Klarman
People
Based
Usually
Opportunity
Fear
Away
Give
Stocks
Giving
Forced
Great
Selling

More quotes by Seth Klarman

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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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When a Wall Street analyst or broker expresses optimism, investors must take it with a grain of salt.
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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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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.
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Complexity - limits competition.
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Value investing is predicated on the efficient market hypothesis being wrong.
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Value investing is risk aversion.
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If you've just stared into the abyss, quickly forget it: the lessons of history can only hold you back.
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Almost no one will accept responsibility for his or her role in precipitating a crisis: not leveraged speculators, not willfully blind leaders of financial institutions, and certainly not regulators, government officials, ratings agencies or politicians.
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Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.
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Macro worries are like sports talk radio. Everyone has a good opinion which probably means that none of them are good.
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The cost of performing well in bad times can be relative underperformance in good times.
Seth Klarman
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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
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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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Benjamin Graham wrote, Those with enterprise haven't the money, and those with money haven't the enterprise, to buy stocks when they are cheap.
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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.
Seth Klarman
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The government can indefinitely control both short-term and long-term interest rates.
Seth Klarman
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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.
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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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