A Quote by Seth Klarman

To value investors the concept of indexing is at best silly and at worst quite hazardous. Warren Buffett has observed that "in any sort of a contest - financial, mental or physical - it's an enormous advantage to have opponents who have been taught that it's useless to even try." I believe that over time value investors will outperform the market and that choosing to match it is both lazy and shortsighted.

Seth Klarman

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Advantage Any Been Believe Best Both Buffett Choosing Concept Contest Enormous Even Financial Hazardous I Believe Indexing Investors Lazy Market Match Mental Observed Opponents Over Physical Quite Shortsighted Silly Sort Taught Time Try Useless Value Warren Warren Buffet Warren Buffett Will Worst

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Seth Klarman
American - Author
Born: May 21, 1957

The word passive does a disservice to investors considering their options. Indexing provides an effective means of owning the market and allows investors to participate in the returns of a basket of stocks. The basket of stocks changes over time as stocks are added or removed based on its rules.

Charles R. Schwab

Price is what you pay, but value, as Warren Buffett has observed, is what you get.

Kelly Evans

Value investors will not invest in businesses that they cannot readily understand or ones they find excessively risky. Hence few value investors will own the shares of technology companies. Many also shun commercial banks, which they consider to have unanalyzable assets, as well as property and casualty insurance companies, which have both unanalyzable assets and liabilities.

Seth Klarman

As Buffett has often observed, value investing is not a concept that can be learned and gradually applied over time. It is either absorbed and adopted at once, or it is never truly learned.

Seth Klarman

Value investing is simple to understand but difficult to implement. Value investors are not supersophisticated analytical wizards who create and apply intricate computer models to find attractive opportunities or assess underlying value. The hard part is discipline, patience, and judgment. Investors need discipline to avoid the many unattractive pitches that are thrown, patience to wait for the right pitch, and judgment to know when it is time to swing.

Seth Klarman

Investors have no reason to feel bearish. True value investors are glad the markets are down.

Irving Kahn

Value investors should completely exit a security by the time it reaches full value; owning overvalued securities is the realm of speculators.

Seth Klarman

Over the past several decades, a growing number of investors have been choosing to put their money in funds that screen companies for their environmental and labor records. Some socially responsible investors are starting to add free expression and privacy to their list of criteria.

Rebecca MacKinnon

Value investors look at cash flows. If a company can maintain present cash flows for 5 or 6 years, it’s a good investment. Investors then just hope that those cash flows - and thus the company’s value - don’t decrease faster than they anticipate.

Peter Thiel

As value investors, our business is to buy bargains that financial market theory says do not exist. We've delivered great returns to our clients for a quarter century-a dollar invested at inception in our largest fund is now worth over 94 dollars, a 20% net compound return. We have achieved this not by incurring high risk as financial theory would suggest, but by deliberately avoiding or hedging the risks that we identified.

Seth Klarman

Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.

Warren Buffett

Over the time that I followed Warren Buffett, one CFO told me, it's very important to pay attention not only to what Warren Buffett says and what he actually does - often there are subtle differences between the two.

Guy Spier

Individual security bargains may be located by the process of security analysis practically at any time. They can be bought with good overall results at all periods except when the general market itself is clearly in a selling range for investors. They show up to best advantage during the years in which the market remains in a relatively narrow and neutral area.

Benjamin Graham

With Kickstarter, people are patrons of the arts. With Mosaic, people can be clean-energy investors like Warren Buffett.

Billy Parish

One measure for promoting both stability and fairness across financial market segments is a small sales tax on all financial transactions - what has come to be known as a Robin Hood Tax. This tax would raise the costs of short-term speculative trading and therefore discourage speculation. At the same time, the tax will not discourage "patient" investors who intend to hold their assets for longer time periods, since, unlike the speculators, they will be trading infrequently.

Robert Pollin

I still believe that for good business analysts a concentrated portfolio is a good strategy combined with a long term horizon. Once again, the secret to success in following the formula strategy is patience, a quality in short supply for both professionals and individual investors alike. I think investors should have a large portion of their assets in equities over time.

Joel Greenblatt

A Quote by Seth Klarman

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