Quotes from Seth Klarman Interview

"A very significant part of my philosophy has to do with managing your psychology. Markets are about the psychology of others. When are they panicking? When are they greedy? But you have those same flaws or those same potential flaws, and managing your portfolio in a way that doesn't leave you where you're panicking or overexposed to greed. If you ... See more

One of the most supportive things I do is, if we buy something and it goes down, as any value investor, you look at it, and you check and recheck your work. Then if nothing's different, you should like it more it's a better bargain. If you knew the sweater you bought yesterday is going on sale today, you might be frustrated that you bought it yeste... See more

"Warren Buffett never tried to make the most money. He never tried to get rich quickly. He tried to get rich slow, and I feel like that's what value investing is; it's a philosophy that stays away from the hot flashy trendy investments and focuses more on never losing big."

"I think it's good to step back from the moment-by-moment noise. Investors sometimes get caught up in the noise, but it's really important to step back….so Daniel Kahneman, my favourite author from Thinking Fast and Slow, wrote a book called Noise and he laid out…an example of somebody taking target practice. Bias is if every shot is up and to the ... See more