Gustavo Ballvé on July 5th, 2012
Food for thought, Home, Investment Themes, Mental models, Portfolio Management, Risk management

That’s the title of the Economist’s article on Seth Klarman, of US$ 1,700 book and amazing long-term performance fame. Surely better articles have been written about him and his book is by far a better source for any potential insight into his philosophy, strategies and execution. That said, I liked the article’s finale for its humor: ‘ “Whatever investment success we achieve will take place against a troubled backdrop,” he wrote in January. Last year “felt like we were playing a great hand of cards in the basement of a condemned building filled with explosives during an earthquake.” He did not get where he is now by being an optimist.’

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