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Quotes from Seth Klarman Interview
the proper perspective on an investment is not what you have made so far, but rather the risk and reward ratio at any given point. The price you paid for a stock is irrelevant.
Eugene Linden • The Mind of Wall Street: A Legendary Financier on the Perils of Greed and the Mysteries of the Market
We can spend years trying to figure out how Buffett achieved his investment returns: how he found the best companies, the cheapest stocks, the best managers. That’s hard. Less hard but equally important is pointing out what he didn’t do. He didn’t get carried away with debt. He didn’t panic and sell during the 14 recessions he’s lived through. He d... See more
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Investors should always keep in mind that the most important metric is not the returnsachieved but the returns weighed against the risks incurred. Ultimately, nothing should be moreimportant to investors than the ability to sleep soundly at night.
Seth Klarman • Seth A. Klarman remarks at MIT
Almost everyone starts as a value investor. It’s funny, that's where Buffett started. And then Buffett in the early '90s became a growth investor. And so just be open-minded.