Seth Klarman: Investors Remain The Consummate Yield Gluttons! | Value Investing News

Seth Klarman: Investors Remain The Consummate Yield Gluttons!

  • In his 2004 Baupost Shareholder Letter, Seth Klarman made his thoughts clear on the inability of most investors to sit on the sidelines and hold cash when markets are expensive, saying:
  • This path also involves risk in that there is no certainty whether or when this will occur; indeed, securities prices could rise further from today’s lofty levels, making the decision to hold cash even more painful.
  • Most significantly, they remain highly skewed toward the greed end (how much can you make?)
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