Value Investors Quotes 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…

— 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…

— Seth Klarman

Value investing is risk aversion.

— Seth Klarman

Be focused on process and not outcome

— 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…

— 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…

— Seth Klarman

Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.

— Seth Klarman

The best protection against risk is knowing what you are doing.

— 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…

— 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,…

— Seth Klarman

Value investing is at its core the marriage of a contrarian streak and a calculator.

— Seth Klarman

The avoidance of loss is the surest way to ensure a profitable outcome.

— Seth Klarman

Do not suffer interim losses, relish and appreciate them

— Seth Klarman

Ratings agencies are highly conflicted, unimaginative dupes. They are blissfully unaware of adverse selection and moral hazard. Investors should never trust them.

— 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…

— Seth Klarman