--- title: "Meaning & Key Takeaway of: Interestingly, we have beaten the market…" description: "\"Interestingly, we have beaten the market quite handsomely over this time frame, although beating the market has never been our objective. Rather, we ha..." image: "https://sms4smile.com/quotes/i/1c7/seth-klarman-1979_beaten_interestingly-we-have-beaten-the-market_489418.png" --- # Interestingly, we have beaten the market quite handsomely… ![“Interestingly, we have beaten the market quite handsomely over this time frame, although beating the market has never been our objective. Rather, we have consistently tried not to lose money and, in doing so, have not only protected on the downside but also outperformed on the upside.” quote by Seth Klarman](https://sms4smile.com/quotes/i/1c7/seth-klarman-1979_beaten_interestingly-we-have-beaten-the-market_489418.png) [Download](https://sms4smile.com/quotes/i/1c7/seth-klarman-1979_beaten_interestingly-we-have-beaten-the-market_489418.png) [Open image](https://sms4smile.com/quotes/i/1c7/seth-klarman-1979_beaten_interestingly-we-have-beaten-the-market_489418.png) > “Interestingly, we have beaten the market quite handsomely over this time frame, although beating the market has never been our objective. Rather, we have consistently tried not to lose money and, in doing so, have not only protected on the downside but also outperformed on the upside.” [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The goal is to avoid losses, which unintentionally leads to outperformance on both sides of the market. **In simple terms:** Avoiding loss can produce upside gains. Key Takeaway Prioritize downside protection. Themes investment strategy risk management market performance Mood cautious strategic Type advisory philosophical When to use this quote - portfolio construction - risk assessment - market timing Key Concepts behavioral finance loss aversion Questions to Reflect On - What risks arise from emphasizing loss avoidance? - How can one balance protection with growth? A Different Perspective Focusing solely on loss avoidance may limit upside potential. ★ ★ ★ ★ ★ No ratings yet [Customer](https://sms4smile.com/quotes/about/customer/) [Funny](https://sms4smile.com/quotes/about/funny/) [Goals](https://sms4smile.com/quotes/about/goals/) [Insightful](https://sms4smile.com/quotes/about/insightful/) [Inspirational](https://sms4smile.com/quotes/about/inspirational/) [Investing](https://sms4smile.com/quotes/about/investing/) [Love](https://sms4smile.com/quotes/about/love/) [Time](https://sms4smile.com/quotes/about/time/) ## Related quotes > [“I wrote early on about the benefits that come from seeking out extreme users and why the most compelling insights often come from looking…](https://sms4smile.com/quotes/tim-brown/i-wrote-early-on-about-the-benefits-that-come-from-seeking-out/) [Tim Brown](https://sms4smile.com/quotes/author/tim-brown/) > [The best way to measure your investing success is not by whether you're beating the market but by whether you've put in place a…](https://sms4smile.com/quotes/benjamin-graham/the-best-way-to-measure-your-investing-success-is-not-by-whether-you/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Question: So investors shouldn't delude themselves about beating the market? 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Joseph Cossman](https://sms4smile.com/quotes/author/e-joseph-cossman/) > [A really large percentage of kids from Duke go to work on Wall Street, and they make a lot of money, but they're almost…](https://sms4smile.com/quotes/mike-posner/a-really-large-percentage-of-kids-from-duke-go-to-work-on-wall-street/) [Mike Posner](https://sms4smile.com/quotes/author/mike-posner/) > [If I could make the same amount of money doing standup it would be no contest. The problem is that if you do make…](https://sms4smile.com/quotes/joe-rogan/if-i-could-make-the-same-amount-of-money-doing-standup-it-would-be-no/) [Joe Rogan](https://sms4smile.com/quotes/author/joe-rogan/) > [You want to make sure you're aware of who's dealing with your money, what it's doing, and how you can save.](https://sms4smile.com/quotes/donte-divincenzo/you-want-to-make-sure-you-re-aware-of-who-s-dealing-with-your-money/) [Donte DiVincenzo](https://sms4smile.com/quotes/author/donte-divincenzo/) > [In college, students would do modeling to earn money. I was also doing the same.](https://sms4smile.com/quotes/neha-sharma/in-college-students-would-do-modeling-to-earn-money-i-was-also-doing/) [Neha Sharma](https://sms4smile.com/quotes/author/neha-sharma/) > [I'm loving life, making money doing what I love to do, making good money and living comfortably. I drive a corvette and live in…](https://sms4smile.com/quotes/eli-drake/i-m-loving-life-making-money-doing-what-i-love-to-do-making-good/) [Eli Drake](https://sms4smile.com/quotes/author/eli-drake/) > [It's not that you don't make any money doing conscious rap music. You make a lot of money doing this, but if you're greedy…](https://sms4smile.com/quotes/krs-one/it-s-not-that-you-don-t-make-any-money-doing-conscious-rap-music-you/) [KRS-One](https://sms4smile.com/quotes/author/krs-one/) > [If you restore a car, and you're making money, then you're doing it wrong.](https://sms4smile.com/quotes/jay-leno/if-you-restore-a-car-and-you-re-making-money-then-you-re-doing-it/) [Jay Leno](https://sms4smile.com/quotes/author/jay-leno/) ## 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/) [Explore all 193 Seth Klarman quotes ](https://sms4smile.com/quotes/author/seth-klarman/) ## More Beaten quotes > [I think children have talent and insight, but it gets beaten out of them.](https://sms4smile.com/quotes/rita-dove/i-think-children-have-talent-and-insight-but-it-gets-beaten-out-of/) [Rita Dove](https://sms4smile.com/quotes/author/rita-dove/) > [It's kind of the yin and yang that fascinate me. That for all the evil men do, there are also people who work obnoxiously…](https://sms4smile.com/quotes/lisa-gardner/it-s-kind-of-the-yin-and-yang-that-fascinate-me-that-for-all-the-evil/) [Lisa Gardner](https://sms4smile.com/quotes/author/lisa-gardner/) > [It's always a wake-up call to get beaten.](https://sms4smile.com/quotes/usain-bolt/it-s-always-a-wake-up-call-to-get-beaten/) [Usain Bolt](https://sms4smile.com/quotes/author/usain-bolt/) > [“I felt my heart skip a beat, just one, but it was enough that I took notice. It was nice to know that the…](https://sms4smile.com/quotes/c-m-stunich/i-felt-my-heart-skip-a-beat-just-one-but-it-was-enough-that-i-took/) [C.M. Stunich](https://sms4smile.com/quotes/author/c-m-stunich/) > [Class clowns are never allowed to date anybody decent, but you don't get beaten up, you're invited to parties, and everybody likes you.](https://sms4smile.com/quotes/dan-harmon/class-clowns-are-never-allowed-to-date-anybody-decent-but-you-don-t/) [Dan Harmon](https://sms4smile.com/quotes/author/dan-harmon/) > [I know from my own clinical work that when people are beaten and hurt, they numb out so that they cant feel anymore.](https://sms4smile.com/quotes/john-bradshaw/i-know-from-my-own-clinical-work-that-when-people-are-beaten-and-hurt/) [John Bradshaw](https://sms4smile.com/quotes/author/john-bradshaw/) > [You could be beaten down by anybody and by everybody and it doesn't matter what everybody else thinks it's how you see yourself and…](https://sms4smile.com/quotes/mark-cuban/you-could-be-beaten-down-by-anybody-and-by-everybody-and-it-doesn-t/) [Mark Cuban](https://sms4smile.com/quotes/author/mark-cuban/) > [Could beauty be beaten out, O youth the cities have sent to strike at each other's strength, it is you who have kept her…](https://sms4smile.com/quotes/hilda-doolittle/could-beauty-be-beaten-out-o-youth-the-cities-have-sent-to-strike-at/) [Hilda Doolittle](https://sms4smile.com/quotes/author/hilda-doolittle/) > [The midget, Bush, and that Rumsfeld deserve only to be beaten with shoes by freedom loving people everywhere.](https://sms4smile.com/quotes/mohammed-saeed-al-sahaf/the-midget-bush-and-that-rumsfeld-deserve-only-to-be-beaten-with/) [Mohammed Saeed al-Sahaf](https://sms4smile.com/quotes/author/mohammed-saeed-al-sahaf/) > [Like with every form of cancer, early detection is what it is all about. I urge everyone to learn the facts about this condition.…](https://sms4smile.com/quotes/rod-stewart/like-with-every-form-of-cancer-early-detection-is-what-it-is-all/) [Rod Stewart](https://sms4smile.com/quotes/author/rod-stewart/) > [In our culture of constant access and nonstop media, nothing feels more like a curse from God than time in the wilderness. To be…](https://sms4smile.com/quotes/jonathan-martin/in-our-culture-of-constant-access-and-nonstop-media-nothing-feels/) [Jonathan Martin](https://sms4smile.com/quotes/author/jonathan-martin/) > [A man who is determined never to move out of the beaten road cannot lose his way.](https://sms4smile.com/quotes/william-hazlitt/a-man-who-is-determined-never-to-move-out-of-the-beaten-road-cannot/) [William Hazlitt](https://sms4smile.com/quotes/author/william-hazlitt/) > [I admit that I've been beaten up so many times in films, but we do not fake it - we actually have to fight…](https://sms4smile.com/quotes/min-sik-choi/i-admit-that-i-ve-been-beaten-up-so-many-times-in-films-but-we-do-not/) [Min-sik Choi](https://sms4smile.com/quotes/author/min-sik-choi/) > [I do not approve of children being beaten. It is always a confession of failure.](https://sms4smile.com/quotes/patricia-wentworth/i-do-not-approve-of-children-being-beaten-it-is-always-a-confession/) [Patricia Wentworth](https://sms4smile.com/quotes/author/patricia-wentworth/) > [If you can feel that staying human is worth while, even when it can't have any practical result whatsoever, you've beaten them.](https://sms4smile.com/quotes/george-orwell/if-you-can-feel-that-staying-human-is-worth-while-even-when-it-can-t/) [George Orwell](https://sms4smile.com/quotes/author/george-orwell/) Browse all 665 Beaten quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Interestingly, we have beaten the market quite handsomely over this time frame, although beating the market has never been our objective. 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