Value investing is at its core the marriage of a contrarian streak and a calculator.

Seth Klarman

Investors

Seth Klarman

Born in 1957 in New York, Seth Klarman founded the Baupost Group in 1982 with 27 million dollars in seed capital and has compounded it at roughly 20% annually ever since. He carries forward Benjamin Graham's margin-of-safety concept into the modern era; his book Margin of Safety became an investing classic that commands over a thousand dollars on the secondhand market. He is known as 'the Oracle of Boston.'

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Seth Klarman's Other Quotes

The single greatest edge an investor can have is a long-term orientation.

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.

At the root of all financial bubbles is a good idea carried to excess.

Related Quotes

In prosperous times, save diligently; in downturns, invest boldly.

-- Honda Seiroku

Being too far ahead of your time is indistinguishable from being wrong.

-- Howard Marks

We were ugly-duckling buyers from start to finish.

-- John Neff

It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their true value is recognized.

-- John Neff

The stock market is the only business I know that when things go on sale, the customers run out of the store.

-- Leon G. Cooperman

I always look for a company where the stock price is below what I believe the value of the enterprise to be.

-- Leon G. Cooperman