Want to follow an investor who invests like the 1960’s Warren Buffett? Seth Klarman is that man. Out of all the “gurus” out there, Seth Klarman is the one who continues to baffle me with his stock picks.
Seth Klarman is known as an investor who keeps a low profile while heading the Boston based Baupost Group. When the Baupost Group establishes a sizeable position, one has to take notice. It is no coincidence the firm has averaged 20% annual returns since 1983. According to this 13G filing, Baupost Group bought 2,255,318 shares of Centerplate (CVP). I haven’t looked at Centerplate’s latest SEC Filings but I am assuming the position has to do with Centerplate looking for a buyer. I wouldn’t bet on Centerplate (CVP) without further due dilligence as Seth Klarman’s picks are tough to figure out without spending significant time on them, then again that’s why they have impressive returns.
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Alex,
Good find. Keep in mind though, that this is an absolutely miniscule position for Baupost. They run over $10B and their total investment in this one is about $9mm…
They are event driven investors though, so it makes sense for them to own a company undergoing a sale process..
Jeff,
Great point. Its import to distinguish a 10% in a COMPANY as opposed to a 10% position out of their PORTFOLIO