Profiling One Of The World Biggest Bears: Baupost's Seth Klarman

Absolute Return+Alpha has put together a must read profile of Seth Klarman and his hedge fund Baupost: a formidable combination, which has quietly become the sixth largest alternative asset manager in the US: "Seth Klarman, president and portfolio manager of 28-year-old Baupost Group, is considered the dean of value investing among hedge fund pros, and such a devotee of Benjamin Graham and David Dodd that he was the lead editor to the reissue of their classic, "Security Analysis,"in 2008. With his wire-rimmed glasses, graying beard and kindly smile, the 53-year-old Klarman has a gentle, professorial air about him—and a reputation as a cautious investor who is more likely to be found sitting on a mound of cash than taking big risks in frothy markets. But if Baupost has been able to throw its weight around recently, it's not just because beaten-down markets provided tremendous opportunities for value investors. It's also because Klarman has been on such an asset-building binge that Baupost has become the sixth-largest hedge fund firm in the UnitedStates, with $21 billion under management—three times the $7.4 billion Klarman managed just three years ago."

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h/t saumilpmehta


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