--- title: "7 Clients Quotes By Seth Klarman" description: "7 Clients quotes by Seth Klarman. Plus more from Seth Klarman and more Clients sayings from other authors." image: "https://sms4smile.com/quotes/i/0f7/seth-klarman-1979_clients_having-great-clients-is-the-key-to-inves_320780.png" --- > [Having great clients is the key to investment success.](https://sms4smile.com/quotes/seth-klarman/having-great-clients-is-the-key-to-investment-success/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) [Image](https://sms4smile.com/quotes/i/0f7/seth-klarman-1979_clients_having-great-clients-is-the-key-to-inves_320780.png) > [One thing I want to emphasize is that, like any human being, we can discuss our view of the economy and the…](https://sms4smile.com/quotes/seth-klarman/one-thing-i-want-to-emphasize-is-that-like-any-human-being-we-can/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) [Image](https://sms4smile.com/quotes/i/5eb/seth-klarman-1979_bargains_one-thing-i-want-to-emphasize-is-that-li_463135.jpg) > [At the worst possible moment, when your fund is down because cheap things have gotten cheaper, you need to have capital, to…](https://sms4smile.com/quotes/seth-klarman/at-the-worst-possible-moment-when-your-fund-is-down-because-cheap/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) [Image](https://sms4smile.com/quotes/i/f8a/seth-klarman-1979_add_at-the-worst-possible-moment-when-your-f_545820.png) > [Having clients with a long-term orientation is crucial. Nothing else is as important to the success of an investment firm.](https://sms4smile.com/quotes/seth-klarman/having-clients-with-a-long-term-orientation-is-crucial-nothing-else/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) [Image](https://sms4smile.com/quotes/i/bac/seth-klarman-1979_clients_having-clients-with-a-long-term-orientat_812846.png) > [When you buy bargains and they become better bargains, it is easy to start to question yourself, which can impair your judgement.…](https://sms4smile.com/quotes/seth-klarman/when-you-buy-bargains-and-they-become-better-bargains-it-is-easy-to/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) [Image](https://sms4smile.com/quotes/i/b2c/seth-klarman-1979_bargains_when-you-buy-bargains-and-they-become-be_1272293.jpg) > [As value investors, our business is to buy bargains that financial market theory says do not exist. We've delivered great returns to…](https://sms4smile.com/quotes/seth-klarman/as-value-investors-our-business-is-to-buy-bargains-that-financial/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) [Image](https://sms4smile.com/quotes/i/15b/seth-klarman-1979_avoiding_as-value-investors-our-business-is-to-bu_1802946.png) > [Be indifferent if you lose your short term clients, remember they are your own worst enemy](https://sms4smile.com/quotes/seth-klarman/be-indifferent-if-you-lose-your-short-term-clients-remember-they-are/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) [Image](https://sms4smile.com/quotes/i/54b/seth-klarman-1979_clients_be-indifferent-if-you-lose-your-short-te_2468840.png) ## Other authors on Clients ## More by Seth Klarman > [Unlike return, however, risk is no more quantifiable at the end of an investment that it was at its beginning. Risk simply cannot be…](https://sms4smile.com/quotes/seth-klarman/unlike-return-however-risk-is-no-more-quantifiable-at-the-end-of-an/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Because investors are not usually penalized for adhering to conventional practices, doing so is the less professionally risky strategy, even though it virtually guarantees…](https://sms4smile.com/quotes/seth-klarman/because-investors-are-not-usually-penalized-for-adhering-to/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Value investing is risk aversion.](https://sms4smile.com/quotes/seth-klarman/value-investing-is-risk-aversion/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Be focused on process and not outcome](https://sms4smile.com/quotes/seth-klarman/be-focused-on-process-and-not-outcome/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [There is an old saying, "How did you go bankrupt?" And the answer is, "Gradually, and then suddenly." The impending fiscal crisis in the…](https://sms4smile.com/quotes/seth-klarman/there-is-an-old-saying-how-did-you-go-bankrupt-and-the-answer-is/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [In a rising market, everyone makes money and a value philosophy is unnecessary. But because there is no certain way to predict what the…](https://sms4smile.com/quotes/seth-klarman/in-a-rising-market-everyone-makes-money-and-a-value-philosophy-is/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.](https://sms4smile.com/quotes/seth-klarman/ultimately-nothing-should-be-more-important-to-investors-than-the/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [The best protection against risk is knowing what you are doing.](https://sms4smile.com/quotes/seth-klarman/the-best-protection-against-risk-is-knowing-what-you-are-doing/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Warren Buffett once wrote that value investing is like an inoculation--it either takes or it doesn't--and when you explain to somebody what it is…](https://sms4smile.com/quotes/seth-klarman/warren-buffett-once-wrote-that-value-investing-is-like-an-inoculation/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [It is important to remember that value investing is not a perfect science. It is an, with an ongoing need for judgment, refinement, patience,…](https://sms4smile.com/quotes/seth-klarman/it-is-important-to-remember-that-value-investing-is-not-a-perfect/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Value investing is at its core the marriage of a contrarian streak and a calculator.](https://sms4smile.com/quotes/seth-klarman/value-investing-is-at-its-core-the-marriage-of-a-contrarian-streak/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [The avoidance of loss is the surest way to ensure a profitable outcome.](https://sms4smile.com/quotes/seth-klarman/the-avoidance-of-loss-is-the-surest-way-to-ensure-a-profitable-outcome/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Do not suffer interim losses, relish and appreciate them](https://sms4smile.com/quotes/seth-klarman/do-not-suffer-interim-losses-relish-and-appreciate-them/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Ratings agencies are highly conflicted, unimaginative dupes. They are blissfully unaware of adverse selection and moral hazard. Investors should never trust them.](https://sms4smile.com/quotes/seth-klarman/ratings-agencies-are-highly-conflicted-unimaginative-dupes-they-are/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [It is crucial to have a strategy in place before problems hit, precisely because no one can accurately predict the future direction of the…](https://sms4smile.com/quotes/seth-klarman/it-is-crucial-to-have-a-strategy-in-place-before-problems-hit/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/clients/seth-klarman/#itemlist", "name": "7 Clients Quotes By Seth Klarman", "numberOfItems": 7, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "Having great clients is the key to investment success.", "creator": { "@type": "Person", "name": "Seth Klarman" }, "url": "https://sms4smile.com/quotes/seth-klarman/having-great-clients-is-the-key-to-investment-success/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/0f7/seth-klarman-1979_clients_having-great-clients-is-the-key-to-inves_320780.png", "contentUrl": "https://sms4smile.com/quotes/i/0f7/seth-klarman-1979_clients_having-great-clients-is-the-key-to-inves_320780.png", "url": "https://sms4smile.com/quotes/i/0f7/seth-klarman-1979_clients_having-great-clients-is-the-key-to-inves_320780.png", "width": 1080, "height": 1080, "caption": "“Having great clients is the key to investment success.” — Seth Klarman", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 2, "item": { "@type": "Quotation", "text": "One thing I want to emphasize is that, like any human being, we can discuss our view of the economy and the market. 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