matjone Posted July 26, 2013 Share Posted July 26, 2013 The question is, what is an individual supposed to do? Link to comment Share on other sites More sharing options...
stahleyp Posted July 26, 2013 Share Posted July 26, 2013 sorry, sanj! :-X Thanks, indy! :) Link to comment Share on other sites More sharing options...
indythinker85 Posted July 26, 2013 Author Share Posted July 26, 2013 The question is, what is an individual supposed to do? Im no macro expert and dont consider myself a Keynesian nor Austrian, but to be honest Klarman seems to have been wrong about macro views for some time. He has bought deep out of the money options or other instruments which make a fortune (i think 100:1) if interest rates go above 10 percent. So that seems to be good investment since risk/reward is very good, gold though hasn't performed that well to say the least. Link to comment Share on other sites More sharing options...
stahleyp Posted July 26, 2013 Share Posted July 26, 2013 Didn't Klarman also underperform quite a bit from the mid 90s until the tech bubble? Link to comment Share on other sites More sharing options...
indythinker85 Posted July 26, 2013 Author Share Posted July 26, 2013 Didn't Klarman also underperform quite a bit from the mid 90s until the tech bubble? I think so plus manages much more now, harder to beat. Im not attacking Klarman, just saying (although didnt make myself clear at all) many investors like Buffett are more bullish than Klarman. Other great value investors can be found on both sides of the spectrum, so not sure what people are supposed to make of that! Link to comment Share on other sites More sharing options...
Guest wellmont Posted July 26, 2013 Share Posted July 26, 2013 interesting thing about klarman who is a genius. forbes reprinted a piece he did from 1990 I believe. He was ranting about how things were nuts and how stocks were overvalued. I then overlaid what he said to a chart of the stocks going back from now to then. Needless to say it was a great time to be buying stocks. And as Buffett says the biggest mistake we can make is taking ourselves out of the game. Kalrman is brilliant, and makes investors a ton of money...but lets just say he's a "different breed". Link to comment Share on other sites More sharing options...
giofranchi Posted July 26, 2013 Share Posted July 26, 2013 interesting thing about klarman who is a genius. forbes reprinted a piece he did from 1990 I believe. He was ranting about how things were nuts and how stocks were overvalued. I then overlaid what he said to a chart of the stocks going back from now to then. Needless to say it was a great time to be buying stocks. And as Buffett says the biggest mistake we can make is taking ourselves out of the game. Kalrman is brilliant, and makes investors a ton of money...but lets just say he's a "different breed". wellmont, imo it is not enough. I am always invested in productive businesses, and yet sometimes I am aggressive in my business dealings and sometimes I am defensive. To behave always the same way, irrespective of what’s happening around you, doesn’t make a lot of sense to me… On this topic I think the 2013 semi-annual report by the GoodHaven Fund is a very good read. giofranchi Link to comment Share on other sites More sharing options...
indythinker85 Posted July 26, 2013 Author Share Posted July 26, 2013 sorry, sanj! :-X Thanks, indy! :) Cant send these things unfortunately besides for reason Parsad said but its likely AR, ZH, BI and VW will post some information since they usually do. Q1 is not out yet but I would be surprised if it was not out by next week. Link to comment Share on other sites More sharing options...
indythinker85 Posted October 8, 2013 Author Share Posted October 8, 2013 Looks like Baupost Q2 is out http://www.valuewalk.com/2013/10/baupost-group-lehman/ Link to comment Share on other sites More sharing options...
indythinker85 Posted October 9, 2013 Author Share Posted October 9, 2013 More http://www.valuewalk.com/2013/10/baupost-group-letter/ has anyone seen full letter? :) Link to comment Share on other sites More sharing options...
stahleyp Posted October 10, 2013 Share Posted October 10, 2013 While not a new letter, still worthwhile. Props to valuewalk http://www.pmjar.com/?p=1623 Link to comment Share on other sites More sharing options...
indythinker85 Posted October 10, 2013 Author Share Posted October 10, 2013 While not a new letter, still worthwhile. Props to valuewalk http://www.pmjar.com/?p=1623 Was about to link that, great article, love PMJar. Cheers! Link to comment Share on other sites More sharing options...
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