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The government can indefinitely control both short-term and long-term interest rates.

Seth Klarman

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Seth Klarman
Age: 67
Born: 1957
Born: May 21
New York City
New York
Seth Andrew Klarman
Long
Indefinitely
Rates
Rate
Short
Control
Term
Interest
Government

More quotes by Seth Klarman

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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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I find value investing to be a stimulating, intellectually challenging, ever changing, and financially rewarding discipline
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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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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.
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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
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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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All an investor can do is follow a consistently disciplined and rigorous approach over time the returns will come
Seth Klarman
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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.
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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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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.
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Hold cash when opportunities are not presenting themselves.
Seth Klarman
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Over the long run, the crowd is always wrong.
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When a Wall Street analyst or broker expresses optimism, investors must take it with a grain of salt.
Seth Klarman
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Almost every financial blow up is because of leverage.
Seth Klarman
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Having great clients is the key to investment success.
Seth Klarman
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Depressions aren't good but the depression mentality is good.
Seth Klarman
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Once you adopt a value-investment strategy, any other investment behavior starts to seem like gambling.
Seth Klarman
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Investing is the intersection of economics and psychology.
Seth Klarman
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Complexity - limits competition.
Seth Klarman
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Excess capacity in people, machines, or property will be quickly absorbed.
Seth Klarman