Quote

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

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
Water
Inability
Rushed
Times
Pulled
Plug
Cash
Plugs
Boat
Boats
Fully
Drain
Meant
Drains
Pressure
Invested
Hold
Dropped
Tubs

More quotes by 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
If you've just stared into the abyss, quickly forget it: the lessons of history can only hold you back.
Seth Klarman
Image
Over the long run, the crowd is always wrong.
Seth Klarman
Image
Do not suffer interim losses, relish and appreciate them
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
Things that have never happened before are bound to occur with some regularity. You must always be prepared for the unexpected, including sudden, sharp downward swings in markets and the economy. Whatever adverse scenario you can contemplate, reality can be far worse.
Seth Klarman
Image
The cost of performing well in bad times can be relative underperformance in good times.
Seth Klarman
Image
Generally, the greater the stigma or revulsion, the better the bargain.
Seth Klarman
Image
I know of no long-time practitioner who regrets adhering to a value philosophy few investors who embrace the fundamental principles ever abandon this investment approach for another
Seth Klarman
Image
In a crisis, stocks of financial companies are great investments, because the tide is bound to turn. Massive losses on bad loans and soured investments are irrelevant to value improving trends and future prospects are what matter, regardless of whether profits will have to be used to cover loan losses and equity shortfalls for years to come.
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
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
Image
When people give away stocks based on forced selling or fear that is usually a great opportunity.
Seth Klarman
Image
Having great clients is the key to investment success.
Seth Klarman
Image
Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.
Seth Klarman
Image
Be indifferent if you lose your short term clients, remember they are your own worst enemy
Seth Klarman
Image
When a government official says a problem has been contained, pay no attention.
Seth Klarman
Image
Investors should always keep in mind that the most important metric is not the returns achieved but the returns weighed against the risks incurred. Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.
Seth Klarman
Image
Once you adopt a value-investment strategy, any other investment behavior starts to seem like gambling.
Seth Klarman
Image
Patience and discipline can make you look foolishly out of touch until they make you look prudent and even prescient
Seth Klarman