34 Facts About Seth Klarman

Seth Andrew Klarman was born on May 21,1957 and is an American billionaire investor, hedge fund manager, and author.

Seth Klarman is the chief executive and portfolio manager of the Baupost Group, a Boston-based private investment partnership he founded in 1982.

Seth Klarman closely follows the investment philosophy of Benjamin Graham and is known for buying unpopular assets while they are undervalued, seeking a margin of safety and profiting from any rise in price.

Seth Klarman's father, Herbert E Klarman, was a public health economist at Johns Hopkins University and his mother was a psychiatric social worker Seth Klarman's parents divorced shortly after their moving to Baltimore.

Seth Klarman attended Cornell University in Ithaca, New York, and was interested in majoring in mathematics but instead chose to pursue economics.

Seth Klarman was a member of the Delta Chi fraternity.

Seth Klarman went on to attend Harvard Business School where he was a Baker Scholar and was classmates with Jeffrey Immelt, Steve Burke, Stephen Mandel, James Long, and Jamie Dimon.

In February 2008, Seth Klarman was alerted that a London-based hedge fund, Peloton Partners, were forced to liquidate more than a billion dollars worth of their assets, he decided to open up his fund to new investors subsequently raising $4 billion in capital, mainly from large foundations and Ivy League endowments.

Seth Klarman believed that there was serious market opportunity for value investors in the coming months and after the collapse of AIG and Lehman Brothers, he invested heavily in the equity markets, sometimes buying $100 million in stocks and other assets per day.

In 2009, Seth Klarman began buying distressed credits during the 2008 financial crisis.

Shortly after the CIT deal was finalized, Seth Klarman amassed a stake in a new bio-tech company called FacetBiotech, at an average cost of $9 a share.

In 2020 Seth Klarman's largest holding is eBay with a value of US$1.48 billion.

Seth Klarman is a known proponent of value investing, and has stated that he has known he was one since junior year of college at age 25.

Seth Klarman has been an avid supporter of the teachings of Benjamin Graham, and during the 2008 financial crisis criticized the short-term thinking of other fund managers, he believes that the "this-time-is-different" mindset will give a false sense of security to investors, and they ought to look at the bigger picture.

Seth Klarman stresses the utility in the economy's business cycles and their predestined and perpetual self-corrective tendency.

Seth Klarman makes unusual investments, buying unpopular assets while they are undervalued, using complex derivatives, and buying put options.

Seth Klarman looks for companies that are traded at a discount.

Seth Klarman stated due to his long-term strategy he is mostly uninterested in daily price fluctuations.

Seth Klarman owns Klaravich Stables Inc and has been racing horses with William Lawrence since 2006.

Seth Klarman typically keeps a low profile, rarely speaking in public or granting interviews.

Seth Klarman's brother, Michael Klarman, is a professor at Harvard Law School.

Seth Klarman has donated to both Democratic and Republican groups and candidates while being registered an independent voter.

Seth Klarman has given extensively to philanthropic causes through the Klarman Family Foundation, which he runs with his wife.

Seth Klarman is a major backer of political non-profits such as the Ending Spending Fund and the pro-same-sex marriage American Unity Fund.

Seth Klarman started The Seth Klarman Family Foundation which donates to medical causes, Jewish organizations, and Israeli causes.

Seth Klarman is the chairman of Facing History and Ourselves which develops classroom programs to combat anti-Semitism and bigotry.

Seth Klarman is active with the Israel Project, a pro-Israel advocacy group that collects and provides information on Israel for journalists.

Seth Klarman donated $4 million to the organization between 2008 and 2010.

Seth Klarman is the key US investor behind The Times of Israel, an online English-language newspaper which reports on Israel, the region and the Jewish world.

In 2019, Cornell University announced that Seth Klarman had donated significant funds to help establish a new postdoctoral fellowship program at the school, the Seth Klarman Fellowships.

Seth Klarman has been called a "hedge fund titan," and a "quiet giant of investing," for his slow accumulation of fund capital over his career and low profile.

Seth Klarman has written many annual letters to shareholders but has kept a limited role in writing articles, op-eds or books.

In 1991, Seth Klarman published his only book, Margin of Safety: Risk Averse Investing Strategies for the Thoughtful Investor, a reflection of value investing found in his hedge fund.

Seth Klarman edited the 6th edition of Benjamin Graham and David Dodd's Security Analysis in 2008.