Seth Klarman – Value Investing Guru

One of the best thoughts any long term investor can keep in mind is Seth Klarman’s dictum to
“replace current holdings as better bargains come along.”
Long term buy and hold is not long term buy and forget.
If you are an individial stock investor you must be active.

Speeches by Set Klarman

• Summary of speech given by Seth Klarman at the Columbia Business School in 2006.
• Speech to MIT
• Notes taken from a Columbia Business School conference presented on October 2, 2008.

Articles on Seth Klarman

• Notes from Seth Klarman’s presentation at the CFA Institute’s 2010 Annual Conference. Another take on the same presentation.
• Margin of Safety Notes by Ronald R. Redfield.
• NY Times Article.

Seth Klarman Articles from ValueHuntr

• Who’s to Blame When the Market Drops? Analysis Often Misses Mark (1989)
• Do They Eat at Home? Guides to Choosing a Money Manager (1991)
• Don’t Be a Yield Pig (1992)
• Baupost Group Letters (1995-2001)
• Why Value Investors are Different (1999)
• On the Painful Decision to Hold Cash (2004)
• On Risk and “Productive Worrying” (2004)
• Speech at MIT on Subprime Mortgage (2007)

Current Holdings

• Baupost Holdings

Other Compilations

• Excellent Seth Klarman compilation at Value Stock Plus.