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Seth Klarman: Opportunities and Pitfalls for investors in 2022


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@no_free_lunchinteresting ... you dont have a free hour to listen to one of the greatest investors of all time talk about the current state of markets .. ??  The talk is highly informative and insightful.  I'd suggest carving out time if you can!

Edited by ValueMaven
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9 minutes ago, ValueMaven said:

@no_free_lunchinteresting ... you dont have a free hour to listen to one of the greatest investors of all time talk about the current state of markets .. ??  The talk is highly informative and insightful.  I'd suggest carving out time if you can!

 

What evidence do you have that he is "one of the greatest investors of all time"? 

 

I have some evidence that he isn't a very good thinker. 

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I actually think Klarman is probably a very good thinker and excels at smart guy type investments. Distressed stuff, complex capital structures, etc. I don’t think he s very good at traditional stock picking, nor is he a wise choice to emulate. His approach is definitely not one the average investor should bother with. Wasn’t his biggest or one of the biggest positions for this entire decade VSAT?

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25 minutes ago, crs223 said:


@stahleypwhat evidence do you have that he is not a good thinker?  Thank you!

 

In his "legendary" book Margin of Safety he said index funds were "fads" failing to understand the arguments for passive.

 

He started becoming bearish  in....2010. I mean, he's a smart guy but I believe he trailed the market for the first 15-20 years in his fund. People will say that his goal isn't to beat the s&p 500 but to be "one of the best investors of all time" that should at least be a factor. Even Buffett (truly one of the best) compared himself to an index.

Edited by stahleyp
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I would say Klarman is probably a good bet if you're already very rich and you want to beat inflation. 

 

Part of the reason I don't care for him is that he's too over dramatic, only outpeforms when there are very, very large downturns, won't republish his book (probably to keep the aura in my opinion), etc

 

Supposedly Buffett said he is one of 3 guy he would invest with so I'm probably wrong. 

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6 hours ago, ValueMaven said:

@no_free_lunchinteresting ... you dont have a free hour to listen to one of the greatest investors of all time talk about the current state of markets .. ??  The talk is highly informative and insightful.  I'd suggest carving out time if you can!

His interviews are basically the same since a decade. How is he one of the greatest investors of all time? He did not come even close to beat the market the last 10 years. 

He doesn't republish his book despite huge demand. 

Druckenmiller's interview at Sohn this year was much more insightful. 

 

 

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5 hours ago, MattR said:

His interviews are basically the same since a decade. How is he one of the greatest investors of all time? He did not come even close to beat the market the last 10 years. 

He doesn't republish his book despite huge demand. 

Druckenmiller's interview at Sohn this year was much more insightful. 

 

 

Do you have the link the to the Druckenmiller interview? 

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Over the last few years I've chuckled watching replays of the Triple Crown Races.  Several times, when the cameras pan over to the owners, I've seen Klarman cheering with a big ole shit eating grin. LOL. 

Edited by tede02
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On 6/21/2022 at 12:55 AM, tytthus said:

Quick read from The Transcript of some Klarman quotes from the interview

 

https://thetranscript.substack.com/p/seth-klarman-interview

 

read some, and maybe you’ll want to invest an hour in the video.  (I didn’t)

I think thinking fast and slow is the most overrated book of all time. It should just be a blog post with a few examples. The summary of the book, is better than the book itself. 

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On 6/22/2022 at 4:45 AM, MattR said:

I think thinking fast and slow is the most overrated book of all time. It should just be a blog post with a few examples. The summary of the book, is better than the book itself. 

Constitution of Knowledge was a great book, bit surprised it hasn't been a more common recommendation from some of the more wide reading notable investors, it's very Soros/Munger too

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