Best Klarman Famous Quotes & Sayings

List of top 34 famous quotes and sayings about best klarman to read and share with friends on your Facebook, Twitter, blogs.

Top 34 Best Klarman Quotes

#1. Many LBOs are man-made disasters. When the price paid is excessive, the equity portion of an LBO is really an out-of-the-money call option. Many fiduciaries placed large amounts of the capital under their stewardship into such options in 2006 and 2007. - Author: Seth Klarman
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#2. You must buy on the way down. There is far more volume on the way down than on the way back up, and far less competition among buyers. It is almost always better to be too early than too late, but you must be prepared for price markdowns on what you buy. - Author: Seth Klarman
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#3. When all feels calm and prices surge, the markets may feel safe; but, in fact, they are dangerous because few investors are focusing on risk. - Author: Seth Klarman
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#4. Costs and liabilities are rarely overstated. - Author: Seth Klarman
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#5. Value investing is predicated on the efficient market hypothesis being wrong. - Author: Seth Klarman
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#6. We are not so brazen as to believe that we can perfectly calibrate valuation; determining risk and return for any investment remains an art not an exact science - Author: Seth Klarman
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#7. At Baupost, we constantly ask: 'What should we work on today?' We keep calling and talking. We keep gathering information. You never have perfect information. So you work, work and work. Sometimes we thumb through ValuLine. How you fill your inbox is very important. - Author: Seth Klarman
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#8. 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. - Author: Seth Klarman
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#9. Always remembering that we might be wrong, we must contemplate alternatives, concoct hedges, and search vigilantly for validation of our assessments. We always sell when a security's price begins to reflect full value, because we are never sure that our thesis will be precisely correct. - Author: Seth Klarman
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#10. A simple rule applies: if you don't quickly comprehend what a company is doing, then management probably doesn't either. - Author: Seth Klarman
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#11. Great investments don't just knock on the door and say "buy me". - Author: Seth Klarman
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#12. Short sellers age in dog years. - Author: Seth Klarman
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#13. I find value investing to be a stimulating, intellectually challenging, ever changing, and financially rewarding discipline - Author: Seth Klarman
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#14. We work really hard never to get confused with what we know from what we think or hope or wish. - Author: Seth Klarman
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#15. 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. - Author: Seth Klarman
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#16. The best protection against risk is knowing what you are doing. - Author: Seth Klarman
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#17. 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. - Author: Seth Klarman
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#18. Right at the core, the mainstream has it backwards. Warren Buffett often quips that the first rule of investing is to not lose money, and the second rule is to not forget the first rule. Yet few investors approach the world with such a strict standard of risk avoidance. - Author: Seth Klarman
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#19. Selling, in particular, can be a challenge; many investors are tempted to become more optimistic when a security is performing well. This temptation must be resisted; tax considerations aside, when a security reaches full valuation, there is no longer a reason to own it. - Author: Seth Klarman
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#20. While knowing how to value businesses is essential for investment success, the first and perhaps most important step in the investment process is knowing where to look for opportunities - Author: Seth Klarman
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#21. Be focused on process and not outcome - Author: Seth Klarman
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#22. investors. I have been a student of the philosophy of value investing, which of course was established, executed, and popularized by superinvestors Benjamin Graham, Warren Buffet, and Seth Klarman among - Author: Sundeep Bajikar
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#23. When managers are afraid of redemptions, they get liquid. We all saw how many managers went from leveraged long in 2007 to huge net cash in 2008, when the right thing to do in terms of value would have been to do the opposite. - Author: Seth Klarman
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#24. It is always easiest to run with the herd; at times, it can take a deep reservoir of courage and conviction to stand apart from it. Yet distancing yourself from the crowd is an essential component of long-term investment success. - Author: Seth Klarman
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#25. I think Buffett is a better investor than me because he has a better eye toward what makes a great business. And when I find a great business I'm happy to buy it and hold it. Most businesses don't look so great to me. - Author: Seth Klarman
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#26. Loss avoidance must be the cornerstone of your investment philosophy. - Author: Seth Klarman
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#27. Markets need not be in sync with one another. Simultaneously, the bond market can be priced for sustained tough times, the equity market for a strong recovery, and gold for high inflation. Such an apparent disconnect is indefinitely sustainable. - Author: Seth Klarman
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#28. The government can indefinitely control both short-term and long-term interest rates. - Author: Seth Klarman
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#29. All an investor can do is follow a consistently disciplined and rigorous approach; over time the returns will come - Author: Seth Klarman
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#30. When a government official says a problem has been "contained," pay no attention. - Author: Seth Klarman
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#31. Ratings agencies are highly conflicted, unimaginative dupes. They are blissfully unaware of adverse selection and moral hazard. Investors should never trust them. - Author: Seth Klarman
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#32. Always look for forced urgent selling. - Author: Seth Klarman
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#33. The trick of successful investors is to sell when they want to, not when they have to. - Author: Seth Klarman
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#34. A value strategy is of little use to the impatient investor since it usually takes time to pay off. - Author: Seth Klarman
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