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Seth Klarman Will Return Money To Investors At The End Of The Year


dcollon
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As someone else stated, he is size sensitive. He has stated he doesn't want to be over 25bn if opportunities are hard to find. If really hard maybe smaller.

 

Another thing to note is that in many respects things are harder (and likely to get further harder in terms of ability to hedge and find cheap tail protection. He did very well shorting subprime etc. but those avenues are largely gone now. Having those super levered cheap hedges facilitated a larger gross notional book. Not the case today.

 

But overall he is most certainly bearish. He has been on the record in may or so saying this is the toughest (most manipulated) market he has ever seen. There is a transcript somewhere of his speech. Well worth a read. Articulate and sobering.

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