Value Investing News

This article provides some perspective into Seth Klarman's investment philosophy. “At Baupost, we are big fans of fear."

Klarman has always stressed that the future is completely unpredictable. Investors must be prepared for any eventuality. The river may overflow its banks only once or twice in a century, but you still buy flood insurance.

• http://www.nytimes.com/2007/05/13/business/yourmoney/13klar.html?ei=5124&en=ecb92fc25931dbad&ex=1336708800&exprod=permalink&partner=permalink (3)