Notes Chapter 3: Margin of Safety

The great majority of institutional investors are plagued with a short-term, relative-performance orientation and lack the long-term perspective that retirement and endowment funds deserve. [Taking about institutional investors] Hundreds of billions of other people’s hard-earned dollars are routinely whipped from investment to investment based on little or no in-deph research or analysis. You probably wouldContinue reading “Notes Chapter 3: Margin of Safety”

Notes: Margin of Safety

Seth Klarman is one of the best-known value investor. He run a company called The Baupost Group for 33 years. In this list published last January the assets under management areĀ $27 bn. I started his book, “Margin of Safety”, and I wanna to share my notes here, just to re-read it in the future. ChapterContinue reading “Notes: Margin of Safety”