undervalued Posted January 28, 2020 Share Posted January 28, 2020 Is it just me or he implicitly mention about Liberty Global in his letter? Link to comment Share on other sites More sharing options...
rogermunibond Posted January 28, 2020 Share Posted January 28, 2020 Has Klarman just given up on trying to restrict access to his letter? Or maybe this one is a fake. :) Did find it interesting he mentioned Steinhoff International debt. Link to comment Share on other sites More sharing options...
CorpRaider Posted January 29, 2020 Share Posted January 29, 2020 Wow, does he always write so much about macro, market and political commentary stuff? Link to comment Share on other sites More sharing options...
RadMan24 Posted January 30, 2020 Share Posted January 30, 2020 Wow, does he always write so much about macro, market and political commentary stuff? In the past he has. It's safe to say he hasn't been a huge fan of Trump, nor what Mitch has done in Senate appointing endless Judicial vacancies with conservative justices. Link to comment Share on other sites More sharing options...
nickenumbers Posted January 30, 2020 Share Posted January 30, 2020 Anyone here have the 2020 letter? I've seen bits and pieces but the full letter is rather elusive this year. Attached! I salute you, Daniel! :-* Link to comment Share on other sites More sharing options...
DanielGMask Posted January 30, 2020 Share Posted January 30, 2020 With gusto! Link to comment Share on other sites More sharing options...
OnTheShouldersOfGiants Posted July 30, 2020 Share Posted July 30, 2020 Anybody get to see the the Q2 letter? Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted July 31, 2020 Share Posted July 31, 2020 "Seth Klarman Says Fed Is Infantilizing Investors in ‘Surreal’ Market" https://www.bloomberg.com/news/articles/2020-07-30/klarman-says-fed-is-infantilizing-investors-in-surreal-market Link to comment Share on other sites More sharing options...
Guest Posted July 31, 2020 Share Posted July 31, 2020 "Seth Klarman Says Fed Is Infantilizing Investors in ‘Surreal’ Market" https://www.bloomberg.com/news/articles/2020-07-30/klarman-says-fed-is-infantilizing-investors-in-surreal-market He might be right eventually, but he sounds like a broken record: https://www.businessinsider.com/seth-klarman-truman-show-2014-3 "But there is one fly in the ointment: in Bernanke’s production, all the Trumans – the economists, fund managers, traders, market pundits – know at some level that the environment in which they operate is not what it seems on the surface." Link to comment Share on other sites More sharing options...
changegonnacome Posted July 31, 2020 Share Posted July 31, 2020 Anybody get to see the the Q2 letter? If not allowed here - my apologies - but makes for interesting reading.....Q2_2020_Letter_Baupost.pdf Link to comment Share on other sites More sharing options...
nickenumbers Posted July 31, 2020 Share Posted July 31, 2020 :-* :-* That is what I like about you bunch, smart, resourceful and willing to share. I can't wait to read it. Seth Klarman is on my top 10 list. Thank you! Link to comment Share on other sites More sharing options...
VersaillesinNY Posted July 31, 2020 Share Posted July 31, 2020 Anybody get to see the the Q2 letter? If not allowed here - my apologies - but makes for interesting reading..... Thanks for sharing! Link to comment Share on other sites More sharing options...
mattee2264 Posted August 1, 2020 Share Posted August 1, 2020 Interesting point about mean reversion no longer operating the way it used to. I think that goes a long way towards explaining why value investing doesn't seem to work as well and also why the stock market has rebounded so strongly as investors realize the pandemic has strengthened the competitive positions of a lot of the biggest companies. I disagree with the surreal stock market comment. The stock market is valuing a stream of earnings stretching 20-30 years while economic data reflects a deep but ultimately self-limiting recession that calls for extraordinary policy measures which are helping to limit the overall damage. So the seeming disconnect is to be expected. Especially as for a lot of the biggest companies that 20-30 year earnings outlook has actually improved as smaller competitors fall by the wayside and technological shifts have been brought forward. Link to comment Share on other sites More sharing options...
OnTheShouldersOfGiants Posted August 4, 2020 Share Posted August 4, 2020 Thanks for sharing Link to comment Share on other sites More sharing options...
maxthetrade Posted August 4, 2020 Share Posted August 4, 2020 Anybody get to see the the Q2 letter? If not allowed here - my apologies - but makes for interesting reading..... Thanks a lot! Link to comment Share on other sites More sharing options...
Snorky Posted April 12, 2021 Share Posted April 12, 2021 Would it be possible that someone PM me the Q4 2017 letter ? I would really appreciate it. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now