Great line:
Warren Buffett once wrote that the concept of value investing is like an inoculation- — it either takes or it doesn’t — and when you explain to somebody what it is and how it works and why it works and show them the returns, either they get it or they don’t. Ultimately, it needs to fit your character. If you have a need for action, if you want to be involved in the new and exciting technological breakthroughs of our time, that’s great, but you’re not a value investor and you shouldn’t be one. If you are predisposed to be patient and disciplined, and you psychologically like the idea of buying bargains, then you’re likely to be good at it.
Seth Klarman – IIMagazine -2008
Disclosure (“none” means no position):
2 replies on “2008 Seth Klarman Interview”
Todd, thank you for posting this. I think that Klarman is one of the few value investors I am aware of who is in Buffett's league. I posted a link to your post on my blog.
http://valueinvestingfundamentals.blogspot.com/
thanks…. I'll check it out