A Quote by Seth Klarman

Most institutional investors feel compelled to swing at almost every pitch and forgo batting selectivity for frequency. — © Seth Klarman
Most institutional investors feel compelled to swing at almost every pitch and forgo batting selectivity for frequency.
Unless an investor has access to “incredibly high-qualified professionals,” they “should be 100 percent passive - that includes almost all individual investors and most institutional investors.
I'm not afraid to swing the bat. If they elect to pitch to me, I'm going to swing. I'm not as picky as Mr. Sheffield. I'll swing at something over my head.
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.
Swing your swing. Not some idea of a swing. Not a swing you saw on TV. Not that swing you wish you had. No, swing your swing. Capable of greatness. Prized only by you. Perfect in it's imperfection. Swing your swing. I know, I did.
What's nice about investing is you don't have to swing at every pitch.
You don't swing at any pitch. You swing at the ones you can hit.
You can watch videos and hit off the tee, stuff like that, but at the same time, it's you against the pitcher. I just need one swing or one pitch to click, and you can find your swing.
Not every pitch I swing at is going over the fence, but you're going to miss every shot you don't take.
Most people don't understand that at a thought has a frequency - every thought has a frequency. We can measure a thought, so if you're thinking about a thought over and over and over again, or if you're imagining in your mind, having that brand new car, having that money that you need, building that company, finding your soul mate, if you imagine what that looks like your're emitting that frequency on a consistent basis.
Once I found my swing, I feel like if I put a good swing on it, I feel like it's got a good chance to go wherever - left, right, center - it doesn't matter. But I'm not just out here going to swing for home runs of anything. I'm just trying to put a good swing on the baseball.
The big thing is, it's about learning which off-speed pitches to swing at. A lot of people say, 'Oh, this guy can't hit a curveball; this guy can't hit an off-speed pitch.' But it's about swinging at the right one. Swing at the hangers. Swing at the ones you can handle.
Have the daring to stop doing the things you really don't want to do. Can you see them? Look closely. Can you observe the many things you do because you reluctantly feel you should or must? Watch closely. Examine every action and reaction. Do you act naturally or do you act because you feel compelled? If you feel compelled, stop. Compulsion is slavery. Example: Refuse to go along with the crowd.
State funds, private equity, venture capital, and institutional lending all have their role in the lifecycle of a high tech startup, but angel capital is crucial for first-time entrepreneurs. Angel investors provide more than just cash; they bring years of expertise as both founders of businesses and as seasoned investors.
What distracts us will begin to define us. We don't need to swing at every pitch.
Every place on earth has a frequency. It's not good or bad, it's just the way it is, and if you can attune yourself to that frequency, then you can find comfort in that.
Many could forgo heavy meals, a full wardrobe, a fine house, etcetera. It is the ego they cannot forgo.
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