Author Topic: Baupost Q4 2017 letter  (Read 17412 times)

DanielGMask

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Re: Baupost Q4 2017 letter
« Reply #30 on: January 30, 2020, 10:22:20 AM »
With gusto!
You should follow me on twitter @ManSalceda


OnTheShouldersOfGiants

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Re: Baupost Q4 2017 letter
« Reply #31 on: July 30, 2020, 09:54:40 AM »
Anybody get to see the the Q2 letter?

Foreign Tuffett

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Re: Baupost Q4 2017 letter
« Reply #32 on: July 31, 2020, 11:01:18 AM »
Former Teldar Paper Vice President

stahleyp

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Re: Baupost Q4 2017 letter
« Reply #33 on: July 31, 2020, 12:07:03 PM »
"Seth Klarman Says Fed Is Infantilizing Investors in ‘Surreal’ Market"

https://www.bloomberg.com/news/articles/2020-07-30/klarman-says-fed-is-infantilizing-investors-in-surreal-market

He might be right eventually, but he sounds like a broken record:

https://www.businessinsider.com/seth-klarman-truman-show-2014-3

"But there is one fly in the ointment: in Bernanke’s production, all the Trumans – the economists, fund managers, traders, market pundits – know at some level that the environment in which they operate is not what it seems on the surface."

Paul

changegonnacome

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Re: Baupost Q4 2017 letter
« Reply #34 on: July 31, 2020, 12:17:47 PM »
Anybody get to see the the Q2 letter?

If not allowed here - my apologies - but makes for interesting reading.....

nickenumbers

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Re: Baupost Q4 2017 letter
« Reply #35 on: July 31, 2020, 12:48:50 PM »
 :-* :-*

That is what I like about you bunch, smart, resourceful and willing to share.

I can't wait to read it.  Seth Klarman is on my top 10 list.

Thank you!
The fastest Cheetah still waits for the lame baby antelope.  ..patience..

VersaillesinNY

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Re: Baupost Q4 2017 letter
« Reply #36 on: July 31, 2020, 02:09:23 PM »
Anybody get to see the the Q2 letter?

If not allowed here - my apologies - but makes for interesting reading.....

Thanks for sharing!

mattee2264

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Re: Baupost Q4 2017 letter
« Reply #37 on: August 01, 2020, 11:29:48 AM »
 Interesting point about mean reversion no longer operating the way it used to. I think that goes a long way towards explaining why value investing doesn't seem to work as well and also why the stock market has rebounded so strongly as investors realize the pandemic has strengthened the competitive positions of a lot of the biggest companies.

 I disagree with the surreal stock market comment. The stock market is valuing a stream of earnings stretching 20-30 years while economic data reflects a deep but ultimately self-limiting recession that calls for extraordinary policy measures which are helping to limit the overall damage. So the seeming disconnect is to be expected. Especially as for a lot of the biggest companies that 20-30 year earnings outlook has actually improved as smaller competitors fall by the wayside and technological shifts have been brought forward.

OnTheShouldersOfGiants

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Re: Baupost Q4 2017 letter
« Reply #38 on: August 04, 2020, 08:09:09 AM »
Thanks for sharing

maxthetrade

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Re: Baupost Q4 2017 letter
« Reply #39 on: August 04, 2020, 09:44:39 AM »
Anybody get to see the the Q2 letter?

If not allowed here - my apologies - but makes for interesting reading.....

Thanks a lot!