49 min listen
Seth Klarman – Timeless Value Investing (EP.328)
FromCapital Allocators – Inside the Institutional Investment Industry
Seth Klarman – Timeless Value Investing (EP.328)
FromCapital Allocators – Inside the Institutional Investment Industry
ratings:
Length:
93 minutes
Released:
Jul 17, 2023
Format:
Podcast episode
Description
Seth Klarman is a legendary value investor and CEO and Portfolio Manager of The Baupost Group, an investment firm founded in 1982 that manages $27 billion. Seth authored the very out-of-print Margin of Safety and edited the recently released 7th edition of Graham and Dodd’s value investing classic, Security Analysis. Our conversation covers Seth’s early experience in business and investing, path to Baupost, timeless value investing principles and those that have changed over time. We discuss Baupost’s application of value investing across sourcing, diligence, portfolio construction, and risk management. We then turn to Seth’s thoughts illiquidity, international investing, the weird current environment, positioning portfolios for it, alignment with clients, succession at Baupost, and his updated perspectives on Securities Analysis and Margin of Safety. We close discussing Seth’s personal investments in the Boston Red Sox, horse racing, and philanthropy. Seth generally stays away from the public eye, so I was particularly grateful to share this conversation some twenty-five years after we first met. For full show notes, visit the episode webpage here. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership
Released:
Jul 17, 2023
Format:
Podcast episode
Titles in the series (100)
André Perold – Academic Practitioner (Capital Allocators, EP.02): My guest on today’s show is André Perold. For those who know André, he needs no introduction. André is the Chief Investment Officer and Co-Managing Partner at HighVista Strategies by Capital Allocators – Inside the Institutional Investment Industry