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Quote by Seth Klarman

“A value strategy is of little use to the impatient investor since it usually takes time to pay off.”

Quote by Seth Klarman

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

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“Value investing is the discipline of buying shares at a significant discount from their current underlying values and holding them until more of their value is realised. The element of a bargain is the key to the process.”

Values Process Share Keys Discipline Elements Investing Currents Significant Buying Realised Bargains Discounts

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“Value investing is predicated on the efficient market hypothesis being wrong.”

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“Value investing requires a great deal of hard work, unusually strict discipline, and a long-term investment horizon. Few are willing and able to devote sufficient time and effort to become value investors, and only a fraction of those have the proper mind-set to succeed.”

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“My view is that an investor is better off knowing a lot about a few investments than knowing a little about each of a great many holdings. One's very best idea's are likely to generate higher returns for a given level of risk than one's hundredth or thousandth best idea.”

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“A simple rule applies: if you don't quickly comprehend what a company is doing, then management probably doesn't either.”

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“In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a speculative undertaking.”

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“The avoidance of loss is the surest way to ensure a profitable outcome.”

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“Loss avoidance must be the cornerstone of your investment philosophy.”

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“In contrast to the speculators preoccupation with rapid gain, value investors demonstrate their risk aversion by striving to avoid loss.”

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“By investing at a discount, Benjamin Graham knew that he was unlikely to experience losses.”

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