A Quote by Seth Klarman

Flexible approach - will look at ALL asset classes. — © Seth Klarman
Flexible approach - will look at ALL asset classes.
Unlike cheap stocks, inexpensive asset classes have a lower chance of big drawdowns (broad asset classes don't go to zero) and a higher probability of average or better returns.
Children should be taught in school that you should have all kinds of asset classes in your portfolio. They should be taught what those asset classes are, and their advantages and disadvantages.
If the investor doesn't have enough time and skill to investigate individual stocks or enough money to diversify a portfolio, the right thing to do is to invest in exchange-traded funds that give you exposure to asset classes. It does make sense for the individual investor to think in terms of holding individual asset classes.
When you want to organize knowledge. you will be careful to base the classification upon essential qualities. You will thus derive classes in which the members have the greatest amount of resemblance to one another and the greatest amount of difference from the members of other classes. But suppose that, instead of organizing knowledge, you set out to organize ignorance and prejudice. You will then do precisely the opposite.You will keep the classification vague and flexible, so that it can be made to include just whatever individuals you choose.
The Chelsea experience was too much too soon. I wasn't flexible as a manager at that time. I was communicative, but I wasn't flexible in my approach.
No one knows what the top-performing asset class will be next year. Lacking this prescience, your next-best solution is to own all of the classes and rebalance regularly.
If you look at some of the strongest athletes in the world, they're gymnasts. And they're the most flexible. You can be very strong, very flexible, and still be able to move.
My thinking is very flexible, and I hope that it will remain flexible and creative as long as biology permits me to think and that I will remain a rebel all my life.
What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.
I was really grateful for the photography classes, the art classes, and the video classes. They would let me skip all my other classes and stay and work on my projects.
I feel that music is more flexible than language and your song, or "piece" is only as flexible as your least flexible component.
When the interval between the intellectual classes and the practical classes is too great, the former will possess no influence, the latter will reap no benefit.
Owning a variety of asset classes means that some part of your portfolio will be doing well when the cyclical turmoil arises. A broadly diversified portfolio includes large capitalization stocks, small cap, emerging markets, fixed income, real estate and commodities.
I get scared when I approach teachers and tell them that I'll probably be able to attend only half the classes, .. I'm scared that they're going to drop me. In the fall of 2002 I signed up for five classes and had to drop three of them.
Whenever someone has an unorthodox approach, different to what a standard boxer would look like, they write it off as being bad. They never seem to look at the normal approach to boxing and think that it might be slightly outdated.
Creative leaders inherently know when rules need to be challenged, and they can see when a more flexible approach should be taken.
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