dcollon Posted September 17, 2013 Posted September 17, 2013 http://www.businessinsider.com/klarman-to-return-investor-money-2013-9
racemize Posted September 17, 2013 Posted September 17, 2013 seems strange that he first returned capital in 2010? I was expecting 2005-2007 rather than that.
ASTA Posted September 17, 2013 Posted September 17, 2013 Thanks for the link. Well its not that strange as he mostly went into 2008 with higher cash balance and made so much on debt in 2008 that he needed to lighten up my guess :D
Guest Posted September 19, 2013 Posted September 19, 2013 seems strange that he first returned capital in 2010? I was expecting 2005-2007 rather than that. yeah he's been bearish since 2010. I won't be surprised if he's proven right in the next couple of years. He was bearish in 2007…and bullish around Feb 2009, I believe.
thelads Posted September 19, 2013 Posted September 19, 2013 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.
giofranchi Posted September 19, 2013 Posted September 19, 2013 He has been on the record in may or so saying this is the toughest (most manipulated) market he has ever seen. Manipulated market...?!?! Which manipulated market?? ;D ;D ;D giofranchi
John Hjorth Posted September 19, 2013 Posted September 19, 2013 Yes it's actually crazy to see the reaction in markets and the effect on market value of ones portfolio by the words of one person. A Danish phrase for "Mr. Market" [translated from Danish to English] is actually "The hysterical stock exchange bitches".
indythinker85 Posted December 5, 2013 Posted December 5, 2013 Klarman's Baupost to return $4B to investors http://www.institutionalinvestorsalpha.com/Article/3285746/Seth-Klarmans-Baupost-to-Return-4-Billion-to-Investors.html
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