I have mentioned Seth Klarman several times before. I find his investments “intriguing” in the sense that his investments hardly overlap the investments of other value fund managers. Anyway, below is a excerpt of the March Outstanding Investor Digest. Also, for those interested in his holdings, they were recently made available and Todd of Value Plays did a nice job of summarizing his increases and decreases.
“BAUPOST GROUP’S SETH KLARMAN “IT’S A GREAT TIME TO BE A VALUE INVESTOR.
THE COMPETITION SEEMS TO HAVE GONE AWAY.” Re-reading Seth Klarman’s annual letter from a year ago, it’s remarkable just how many of his warnings turned out to be tomorrow’s headlines. Among those warnings were that the subprime mortgage debacle and housing contraction were likely to be “the first failure in a broader reckoning,” that increased risk aversion would lead to tighter lending”
Click here for the OID excerpt
HOLDINGS from Value Plays
News Corp”A” (NWSA) shares up from 16 million to 27 million shares
RHI Entertainment (RHIE) from 3.6 to 4.9 million shares
Domtar (UFS) from 33 million to 40 million shares
Linn Energy (LINE) from 7.9 million to 4 million shares
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