After last week’s New York Times article A Quiet Giant of Investing Weighs In on Trump, a lot of people have been looking for Seth Klarman’s 2016 Baupost Group letter to investors (myself included).
Seth Klarman is a famous value investor who runs Baupost Group, which manages $30 billion.
Although he has long kept a low public profile, he is considered a giant within investment circles. He is often compared to Warren Buffett, and The Economist magazine once described him as “The Oracle of Boston,” where Baupost is based. For good measure, he is one of the very few hedge managers Mr. Buffett has publicly praised.
Seth Klarman’s writings are so coveted and followed by Wall Street that a used copy of a book he wrote several decades ago about investing starts at $795 on Amazon, and a new copy sells for as much as $3,500.
The Baupost Group letter to investors that he wrote to his investors a little over two weeks ago about investing during the age of President Trump — and offering his thoughts on the current state of the hedge fund industry — has quietly become the most sought-after reading material on Wall Street.