Seth Klarman & Baupost Group's 2010 Letter Excerpt ~ market folly

Friday, March 4, 2011

Seth Klarman & Baupost Group's 2010 Letter Excerpt

Thanks for MyInvestingNotebook for highlighting that legendary investor Seth Klarman and his firm, Baupost Group, are out with their 2010 year-end letter. Courtesy of VII, below is an excerpt from their letter. We're going to warn you that it is very long, but a must-read:

*removed per the request of representatives from Baupost*

For more from this value investing guru, see Klarman's lessons from the financial crisis as well as some of his recent activity in commercial real estate.

To read additional insight from top hedge fund managers/investors, we've posted up a ton of great investor letters including:

- John Paulson
- Lee Ainslie's Maverick Capital
- Third Point's Dan Loeb
- Perry Capital
- Barry Rosenstein's JANA Partners
- Warren Buffett's annual letter

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