indythinker85 Posted January 25, 2013 Share Posted January 25, 2013 Klarman not a fan of Bernanke it seems :) 20% of portfolio is Lehman debt it seems. http://www.valuewalk.com/2013/01/baupost-groups-seth-klarman-sees-50-shades-of-value-in-the-market/ Link to comment Share on other sites More sharing options...
siddharth18 Posted January 26, 2013 Share Posted January 26, 2013 Thanks for the link! Any luck finding the actual letter? Link to comment Share on other sites More sharing options...
eclecticvalue Posted January 26, 2013 Share Posted January 26, 2013 You definitely won't find the letter anywhere. Because Baupost is on the lookout if a letter appears on the web and when they find it they will request a takedown. Same thing happened to valuewalk when they posted a letter. Link to comment Share on other sites More sharing options...
GrizzlyRock Posted January 26, 2013 Share Posted January 26, 2013 I understand Klarman's reticence to have his material out there publicly. I know we all like reading the material but his business is private and confidential for a reason. Link to comment Share on other sites More sharing options...
indythinker85 Posted January 27, 2013 Author Share Posted January 27, 2013 Have not seen full thing. I have seen Zerohedge and Valuewalk (and maybe Marketfolly) post segments in the past (which were not removed). I get the feeling Baupost will ACCEPT it if someone writes a summary and/or quotes small segments. They only ask for removal if large or entire portions are posted. Link to comment Share on other sites More sharing options...
berkshiremystery Posted January 27, 2013 Share Posted January 27, 2013 guys & dolls,... If you like it or not,... like an Ebola virus, at least some old letters sometimes appear and disappear,... just copy and paste this google search-string,... "baupost group" filetype:pdf and you might find right ahead at the first URL link some old letters from past years. Not sure who put them up there, but they are the real letters. Link to comment Share on other sites More sharing options...
indythinker85 Posted January 27, 2013 Author Share Posted January 27, 2013 guys & dolls,... If you like it or not,... like an Ebola virus, at least some old letters sometimes appear and disappear,... just copy and paste this google search-string,... "baupost group" filetype:pdf and you might find right ahead at the first URL link some old letters from past years. No sure who put them up there, but they are the real letters. Wow thank you! I have seen a lot of letters floating around but many of those i have never seen. Link to comment Share on other sites More sharing options...
Guest wellmont Posted January 27, 2013 Share Posted January 27, 2013 baupost was a public filing investment company at one point. those letters are in the SEC archive. Link to comment Share on other sites More sharing options...
indythinker85 Posted January 27, 2013 Author Share Posted January 27, 2013 baupost was a public filing investment company at one point. those letters are in the SEC archive. Never knew that. Is this the one your referring to? http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000865827&owner=exclude&count=40&hidefilings=0 Link to comment Share on other sites More sharing options...
eclecticvalue Posted January 27, 2013 Share Posted January 27, 2013 Thank you berkshiremystery, I was able to find one recent letter they haven't taken down as of yet. Pretty much you can get the earlier letters in a compilation on the internet easily. Again the newer ones are harder to find because they are always on the lookout. Link to comment Share on other sites More sharing options...
Guest wellmont Posted January 27, 2013 Share Posted January 27, 2013 baupost was a public filing investment company at one point. those letters are in the SEC archive. Never knew that. Is this the one your referring to? http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000865827&owner=exclude&count=40&hidefilings=0 yes the letters are in the n30d. Link to comment Share on other sites More sharing options...
maxprogram Posted January 29, 2013 Share Posted January 29, 2013 I put the public letters together into a PDF a few years ago: http://www.maxcapitalcorp.com/public/BaupostFundLetters.pdf This was from one of their smaller public funds. And a blog post with some analysis: http://www.futureblind.com/2009/06/baupost-fund-allocations-1995-2001/ Link to comment Share on other sites More sharing options...
PlanMaestro Posted January 29, 2013 Share Posted January 29, 2013 Max, thanks for the links. I see you made no comments on Baupost's performance. Why not? I put the public letters together into a PDF a few years ago: http://www.maxcapitalcorp.com/public/BaupostFundLetters.pdf This was from one of their smaller public funds. And a blog post with some analysis: http://www.futureblind.com/2009/06/baupost-fund-allocations-1995-2001/ Link to comment Share on other sites More sharing options...
maxprogram Posted January 31, 2013 Share Posted January 31, 2013 Max, thanks for the links. I see you made no comments on Baupost's performance. Why not? No particular reason, was just more interested in how they invested. This particular fund was closed I assume due to mediocre performance vs. the S&P (12.3% vs. 14.7% over 10+ years). But I'd argue the poor relative performance was due mainly to bad luck -- most of the period the market was extremely overvalued, and it was a bad time for value investing. Baupost's main fund (BLP 1983 C-1) performed better during the same period: 17.0% annualized from 1990-2001. Not sure of what caused the difference between the 2 funds -- perhaps better private investments for the bigger fund? Link to comment Share on other sites More sharing options...
giofranchi Posted February 5, 2013 Share Posted February 5, 2013 Via the Distressed Debt Investing Blog: http://www.distressed-debt-investing.com/2013/02/my-three-favorite-quotes-from-bauposts.html giofranchi “As time goes on I get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes. It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.” - John Maynard Keynes Link to comment Share on other sites More sharing options...
indythinker85 Posted February 5, 2013 Author Share Posted February 5, 2013 I found another good quote from the letter here https://www.facebook.com/photo.php?fbid=526024970770781&set=a.297195640320383.72384.144640855575863&type=1&theater¬if_t=like Link to comment Share on other sites More sharing options...
maxthetrade Posted February 12, 2013 Share Posted February 12, 2013 Summary of the 2012 letter: http://www.institutionalinvestorsalpha.com/Article/3152364/Baupost-Navigates-a-Tough-Yet-Still-Profitable-2012.html Link to comment Share on other sites More sharing options...
indythinker85 Posted April 30, 2013 Author Share Posted April 30, 2013 Looks like first quarter letter is out anyone seen it? http://www.valuewalk.com/2013/04/seth-klarman-false-calm/ Link to comment Share on other sites More sharing options...
giofranchi Posted May 4, 2013 Share Posted May 4, 2013 Selected excerpts from Seth Klarman's latest letter. giofranchiKlarman-Q1-2013.pdf Link to comment Share on other sites More sharing options...
indythinker85 Posted May 10, 2013 Author Share Posted May 10, 2013 More links for Q1 http://www.zerohedge.com/news/2013-05-05/seth-klarman-expains-when-investing-its-hardest-and-why-he-not-joining-momentum-trad http://www.institutionalinvestorsalpha.com/Article/3201722/Seth-Klarmans-Baupost-May-Return-Some-Capital-to-Investors.html Link to comment Share on other sites More sharing options...
indythinker85 Posted July 19, 2013 Author Share Posted July 19, 2013 I dont think this is a quarterly letter but nice amount of information from wherever it was taken. Wish Klarman spoke more about investments these days instead of macro but ill take what i can get! http://www.valuewalk.com/2013/07/klarman-economy-house-of-cards/ Link to comment Share on other sites More sharing options...
CorpRaider Posted July 19, 2013 Share Posted July 19, 2013 sounding a little like a gold bug there... Link to comment Share on other sites More sharing options...
stahleyp Posted July 20, 2013 Share Posted July 20, 2013 Who has the letter for q1 or possibly q2? Come on guys...post it, please! Heck, I'll be satisfied with an private message. ;) Link to comment Share on other sites More sharing options...
Parsad Posted July 20, 2013 Share Posted July 20, 2013 Who has the letter for q1 or possibly q2? Come on guys...post it, please! Heck, I'll be satisfied with an private message. ;) Links guys! Copyrighted stuff will be deleted if I see it. Cheers! Link to comment Share on other sites More sharing options...
indythinker85 Posted July 26, 2013 Author Share Posted July 26, 2013 Here is some more from that speech seems valuewalk and zerohedge have connections at LPs http://www.zerohedge.com/news/2013-07-25/seth-klarman-very-worried-about-future-world-living-prayer Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now