I can’t get enough of Seth Klarman, one of the best investing minds on the planet.
Klarman is a value investing legend who runs The Baupost Group, one of the largest hedge funds in the U.S. He’s also the author of the best selling book, Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor.
In a 2011 interview with television journalist Charlie Rose, Klarman explained the psychology necessary to be a good value investor. In this interview, Klarman says, “Investing is the intersection of economics and psychology”.
“The economics, the valuation of a business is not that hard. The psychology – how much do you buy at this price, do you wait for a lower price, what do you do when it looks like the world might end – Those things are harder.”
It’s a must-watch for all value investors.
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