Home / Quotes / Quote by Seth Klarman

Quote by Seth Klarman

“We worry top-down, but we invest bottom-up”

Author

Seth Klarman is an American author and value investor, serving as the president of The Baupost Group, a Boston-based investment firm. He is renowned for his extensive contributions to the field of value investing and has authored several books on the subject, most notably 'Margin of Safety: Risk-Averse Investing Strategies for the Thoughtful Investor'. more

“Gold is unique because it has the age-old aspect of being viewed as a store of value. Nevertheless, it’s still a commodity and has no tangible value, and so I would say that gold is a speculation. But because of my fear about the potential debasing of paper money and about paper money not being a store of value, I want some exposure to gold.”

Want Stills Age Values Paper Unique Aspect Gold Stores Nevertheless Commodity Speculation Exposure Tangible Paper Money

Author:Seth Klarman

“Because investors are not usually penalized for adhering to conventional practices, doing so is the less professionally risky strategy, even though it virtually guarantees against superior performance.”

Practice Performances Strategy Superiors Guarantees Investors Conventional Superior Performance

Author:Seth Klarman

“Warren Buffett once wrote that value investing is like an inoculation--it either takes or it doesn't--and when you explain to somebody what it is and how it works and why it works and show them the returns, either they get it or they don't.”

Shows Values Return Investing Buffett Warren Buffet

Author:Seth Klarman

“It sounds kind of crazy, but in times of turmoil in the market, I've felt a sort of serenity in knowing that I've checked and re-checked my work, one plus one still equals two regardless of where a stock trades right after I buy it.”

Kind Stills Two Felt Sound Knowing Crazy Trade Plus Serenity Turmoil

Author:Seth Klarman