Successful investors like stocks better when they’re going down. When you go to a department store or a supermarket, you like to… — Seth Klarman Copy Share Image
Buying's easier, selling's hard - [it's] hard to know when to get out. — Seth Klarman Copy Share Image
While no one wishes to incur losses, you couldn't prove it from an examination of the behavior of most investors and speculators.… — Seth Klarman Copy Share Image
Value investing is simple to understand but difficult to implement. Value investors are not supersophisticated analytical wizards who create and apply intricate… — Seth Klarman Copy Share Image
We suppose that could be considered a hedged position for the awards committee, one that would never occur in the hard sciences… — Seth Klarman Copy Share Image
Investing is the intersection of economics and psychology. The analysis is actually the easy part. The economics, the valuation of the business… — Seth Klarman Copy Share Image
We work really hard never to get confused with what we know from what we think or hope or wish. — Seth Klarman Copy Share Image
Value investing requires a great deal of hard work, unusually strict discipline, and a long-term investment horizon. Few are willing and able… — Seth Klarman Copy Share Image
Unlike return, however, risk is no more quantifiable at the end of an investment that it was at its beginning. Risk simply cannot be… — Seth Klarman Copy Share Image
Because investors are not usually penalized for adhering to conventional practices, doing so is the less professionally risky strategy, even though it virtually guarantees… — Seth Klarman Copy Share Image
There is an old saying, "How did you go bankrupt?" And the answer is, "Gradually, and then suddenly." The impending fiscal crisis in the… — Seth Klarman Copy Share Image
In a rising market, everyone makes money and a value philosophy is unnecessary. But because there is no certain way to predict what the… — Seth Klarman Copy Share Image
Ultimately, nothing should be more important to investors than the ability to sleep soundly at night. — Seth Klarman Copy Share Image
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… — Seth Klarman Copy Share Image
It is important to remember that value investing is not a perfect science. It is an, with an ongoing need for judgment, refinement, patience,… — Seth Klarman Copy Share Image
Value investing is at its core the marriage of a contrarian streak and a calculator. — Seth Klarman Copy Share Image
The avoidance of loss is the surest way to ensure a profitable outcome. — Seth Klarman Copy Share Image
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