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Value investing Guru Seth Klarman says “don’t give up on value investing.”

seth
In 2015, Baupost, which Seth Klarman manages, lost 6.7%, his 3rd losing year in 33 years.  Seth steered investors through the internet bubble and financial crisis and seems to finally be excited about investing opportunities.

Below is an excerpt from Valuewalk:

Seth Klarman: Value investing is a marathon not a sprint

“Value investors must be strong and resilient, as well as independent-minded and sometimes contrary. You don’t become a value investor for the group hugs. Indeed, one can go long stretches of time with no positive reinforcement whatsoever. Unlike some other fields of endeavor, in investing you can do the same thing as yesterday but achieve completely different reported results. In the long run, the research and analysis you perform should overcome market forces; the fundamentals ultimately matter. But in the short run, markets can trump effort and insight.” — Seth Klarman 2015 year-end letter to investors.

Click here to read the full post.

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Ken’s focus is on investment strategy, research and analysis as well as financial planning strategy. Ken plays the lead role of our team identifying investments that fit the philosophy of the Global View approach. He is a strict adherent to Margin of Safety investment principles and has a strong belief in the power of business cycles.
On a personal note, Ken was born in 1964 in Lexington Virginia, has been married since 1991. Immediately before locating to Greenville in 1997, Ken lived in New York City.

Categorized: Economic Commentary , Global Financial Markets , Margin of Safety Commentary
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