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A truly very interesting read on value investing featuring Seth Klarman.

MarkMark
in Off-Topic
"Contrary to recent media coverage, Seth Klarman is not most well known for being another billionaire who has just changed party loyalties in the current Presidential race, but rather for his incredible investing acumen that has generated 16.4% annual compounded returns for his investors over a remarkable thirty-three year career as the Chief Investment Officer of the Baupost Group."

Grab a beverage and some snacks, it'll take awhile but it's worth it. Beat the hell out of watching the debate nonsense.

In: Q2 2016 Market Review & Outlook by Mark Yusko, Morgan Creek Capital Management.
http://www.morgancreekcap.com/documents/MCCM 2Q2016_Market Outlookv2.pdf

Comments

  • Lukemon
    Mark, thanks for the article, very good insight into his thought processes, tried to get our local librarian to request a copy of "Margin of Safety" but she just smiled and shook her head, apparently it is widely stolen. Anyway, I truly enjoyed the article and thanks again for posting it.
  • icyoneicyone
    Checked Amazon just for curiosity:
    "
    New from $1,422.01 16 Used from $991.01 1 Collectible from $1,299.95
    20 used & new from $991.01
    "
    Amazing that it has not been reprinted -- maybe some weird legal entanglement??

    (Anyone here old enought to remember "Hoover Hong"? ;-).... )
  • MarkMark
    I have to agree, the price of the book does bring pause but I've done much worse things with $1000.
  • Old_Skeet
    Hi @Mark,

    Thanks for posting. I thought the reading was good; but, a little long at sixty six pages for one sitting. In time, I just might spring for a copy of the book if I can locate one.

    Skeet
  • kevindowkevindow
    Many great books, including "Margin of Safety,"are available as pdf files using the Google machine.

    Kevin
  • BenWPBenWP
    Thanks for this posting. I found it long and repetitive, but maybe that's the true lesson for a value investor. My other observation is that Klarman implies you have to work constantly at uncovering undervalued securities. Seems to be advice for the money manager rather than the novice or hobbyist that I am.
  • LLJB
    @kevindow, thanks!
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