--- title: "Meaning & Key Takeaway of: Value investing by its very nature is…" description: "\"Value investing by its very nature is contrarian.\" — Seth Klarman" image: "https://sms4smile.com/quotes/i/9ea/seth-klarman-1979_contrarian_value-investing-by-its-very-nature-is-co_999001.png" --- # Value investing by its very nature is contrarian. ![“Value investing by its very nature is contrarian.” quote by Seth Klarman](https://sms4smile.com/quotes/i/9ea/seth-klarman-1979_contrarian_value-investing-by-its-very-nature-is-co_999001.png) [Download](https://sms4smile.com/quotes/i/9ea/seth-klarman-1979_contrarian_value-investing-by-its-very-nature-is-co_999001.png) [Open image](https://sms4smile.com/quotes/i/9ea/seth-klarman-1979_contrarian_value-investing-by-its-very-nature-is-co_999001.png) > “Value investing by its very nature is contrarian.” [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. Explains that value investing inherently goes against market trends, requiring contrarian thinking and patience. **In simple terms:** Value investing is naturally contrarian. Key Takeaway Adopt a contrarian mindset for investing. Themes investment contrarian value patience Mood analytical cautious Type financial strategic When to use this quote - finance - portfolio management - research - risk mitigation Key Concepts market inefficiencies risk assessment long‑term thinking Questions to Reflect On - How do you stay disciplined when markets disagree? - What signals justify a contrarian bet? A Different Perspective Contrarian strategies can underperform short‑term. ★ ★ ★ ★ ★ No ratings yet [Contrarian](https://sms4smile.com/quotes/about/contrarian/) [Customer](https://sms4smile.com/quotes/about/customer/) [Investing](https://sms4smile.com/quotes/about/investing/) [Investing Nature](https://sms4smile.com/quotes/about/investing-nature-2096524/) [Nature](https://sms4smile.com/quotes/about/nature/) [Nature Contrarian](https://sms4smile.com/quotes/about/nature-contrarian-2096523/) [Value Investing](https://sms4smile.com/quotes/about/value-investing-259619/) [Values](https://sms4smile.com/quotes/about/values/) ## Related quotes > [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/) > [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/) > [By focusing on teaching businesses about the ROI they can achieve by preserving and investing in nature, you're expanding the scope of the impact…](https://sms4smile.com/quotes/ramez-naam/by-focusing-on-teaching-businesses-about-the-roi-they-can-achieve-by/) [Ramez Naam](https://sms4smile.com/quotes/author/ramez-naam/) > [The exact details of how you practice value investing will vary investor to investor, but the fundamental principle of scouring the world, looking for…](https://sms4smile.com/quotes/whitney-tilson/the-exact-details-of-how-you-practice-value-investing-will-vary/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [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 predicated on the efficient market hypothesis being wrong.](https://sms4smile.com/quotes/seth-klarman/value-investing-is-predicated-on-the-efficient-market-hypothesis/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Warren Buffett is right when he says you should invest as if the market is going to be closed for the next five years.…](https://sms4smile.com/quotes/seth-klarman/warren-buffett-is-right-when-he-says-you-should-invest-as-if-the/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Value investing is the discipline of buying shares at a significant discount from their current underlying values and holding them until more of their…](https://sms4smile.com/quotes/seth-klarman/value-investing-is-the-discipline-of-buying-shares-at-a-significant/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Value investing is simple to understand but difficult to implement. Value investors are not supersophisticated analytical wizards who create and apply intricate computer models…](https://sms4smile.com/quotes/seth-klarman/value-investing-is-simple-to-understand-but-difficult-to-implement/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [As Buffett has often observed, value investing is not a concept that can be learned and gradually applied over time. It is either absorbed…](https://sms4smile.com/quotes/seth-klarman/as-buffett-has-often-observed-value-investing-is-not-a-concept-that/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [While some might mistakenly consider value investing a mechanical tool for identifying bargains, it is actually a comprehensive investment philosophy that emphasizes the need…](https://sms4smile.com/quotes/seth-klarman/while-some-might-mistakenly-consider-value-investing-a-mechanical/) [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/) > [I find value investing to be a stimulating, intellectually challenging, ever changing, and financially rewarding discipline](https://sms4smile.com/quotes/seth-klarman/i-find-value-investing-to-be-a-stimulating-intellectually-challenging/) [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/) > [It turns out that value investing is something that is in your blood. There are people who just don't have the patience and discipline…](https://sms4smile.com/quotes/seth-klarman/it-turns-out-that-value-investing-is-something-that-is-in-your-blood/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) ## 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 Contrarian quotes > [I have contrarian tendencies.](https://sms4smile.com/quotes/george-t-conway-iii/i-have-contrarian-tendencies/) [George T. Conway III](https://sms4smile.com/quotes/author/george-t-conway-iii/) > [Contrarian thinking at its best simply asks, Is this really true? It speaks up when the politically correct answer or the conventional wisdom doesn't…](https://sms4smile.com/quotes/larry-osborne/contrarian-thinking-at-its-best-simply-asks-is-this-really-true-it/) [Larry Osborne](https://sms4smile.com/quotes/author/larry-osborne/) > [It’s actually pretty easy to be contrarian. It’s hard to be contrarian and right.](https://sms4smile.com/quotes/reid-hoffman/it-s-actually-pretty-easy-to-be-contrarian-it-s-hard-to-be-contrarian/) [Reid Hoffman](https://sms4smile.com/quotes/author/reid-hoffman/) > [“Defending unpopular positions is what lawyers do”](https://sms4smile.com/quotes/paul-clement/defending-unpopular-positions-is-what-lawyers-do/) [Paul Clement](https://sms4smile.com/quotes/author/paul-clement/) > [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/) > [When your views are truly contrarian, they are inevitably uncomfortable. Courage and the ability to withstand pain are required,](https://sms4smile.com/quotes/michael-steinhardt/when-your-views-are-truly-contrarian-they-are-inevitably/) [Michael Steinhardt](https://sms4smile.com/quotes/author/michael-steinhardt/) > [The very act of becoming an entrepreneur is contrarian to middle class values, study hard, get a good job, be happy with secure income…](https://sms4smile.com/quotes/rashmi-bansal/the-very-act-of-becoming-an-entrepreneur-is-contrarian-to-middle/) [Rashmi Bansal](https://sms4smile.com/quotes/author/rashmi-bansal/) > [When the things in front of you in life reveal how messed up the system is, you lose faith in the system pretty quickly.…](https://sms4smile.com/quotes/jalen-rose/when-the-things-in-front-of-you-in-life-reveal-how-messed-up-the/) [Jalen Rose](https://sms4smile.com/quotes/author/jalen-rose/) > [None of this means, however, that a business or stock is an intelligent purchase simply because it is unpopular; a contrarian approach is just…](https://sms4smile.com/quotes/warren-buffett/none-of-this-means-however-that-a-business-or-stock-is-an-intelligent/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“Let’s watch out for the unpredictability and the wildcat jumps of contrarian people, whose sole interests are soaring targets at high-speed, at all costs…](https://sms4smile.com/quotes/erik-pevernagie/let-s-watch-out-for-the-unpredictability-and-the-wildcat-jumps-of/) [Erik Pevernagie](https://sms4smile.com/quotes/author/erik-pevernagie/) > [To be a contrarian, you've got to be a contrarian against your own people.](https://sms4smile.com/quotes/james-carville/to-be-a-contrarian-you-ve-got-to-be-a-contrarian-against-your-own/) [James Carville](https://sms4smile.com/quotes/author/james-carville/) > [“Decision making brings together many of the finest traits of contrarian leadership--thinking gray, thinking free, artful listening, delegating authority while retaining ultimate responsibility,artful procrastination,…](https://sms4smile.com/quotes/steven-b-sample/decision-making-brings-together-many-of-the-finest-traits-of/) [Steven B. Sample](https://sms4smile.com/quotes/author/steven-b-sample/) > [I have a slight contrarian impulse I can't seem to shake.](https://sms4smile.com/quotes/john-f-kennedy-jr/i-have-a-slight-contrarian-impulse-i-can-t-seem-to-shake/) [John F. Kennedy Jr](https://sms4smile.com/quotes/author/john-f-kennedy-jr/) > [I am something of a contrarian, I suppose. I feel less comfortable when everybody agrees with me. I say, 'I better reexamine my position!'…](https://sms4smile.com/quotes/antonin-scalia/i-am-something-of-a-contrarian-i-suppose-i-feel-less-comfortable-when/) [Antonin Scalia](https://sms4smile.com/quotes/author/antonin-scalia/) > [Successful contrarian investing requires us to live with discomfort, for being "wrong" and alone. But bargains do not exist in the absence of fear.](https://sms4smile.com/quotes/robert-d-arnott/successful-contrarian-investing-requires-us-to-live-with-discomfort/) [Robert D. Arnott](https://sms4smile.com/quotes/author/robert-d-arnott/) [Browse all 55 Contrarian quotes ](https://sms4smile.com/quotes/about/contrarian/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Value investing by its very nature is contrarian.", "creator": { "@type": "Person", "name": "Seth Klarman" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/seth-klarman/value-investing-by-its-very-nature-is-contrarian/", "about": { "@type": "Thing", "name": "Contrarian" }, "@id": "https://sms4smile.com/quotes/seth-klarman/value-investing-by-its-very-nature-is-contrarian/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/9ea/seth-klarman-1979_contrarian_value-investing-by-its-very-nature-is-co_999001.png", "contentUrl": "https://sms4smile.com/quotes/i/9ea/seth-klarman-1979_contrarian_value-investing-by-its-very-nature-is-co_999001.png", "url": "https://sms4smile.com/quotes/i/9ea/seth-klarman-1979_contrarian_value-investing-by-its-very-nature-is-co_999001.png", "width": 1080, "height": 1080, "caption": "“Value investing by its very nature is contrarian.” — Seth Klarman", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Seth Klarman", "item": "https://sms4smile.com/quotes/author/seth-klarman/" }, { "@type": "ListItem", "position": 4, "name": "Value investing by its very nature...", "item": "https://sms4smile.com/quotes/seth-klarman/value-investing-by-its-very-nature-is-contrarian/" } ], "@id": "https://sms4smile.com/quotes/seth-klarman/value-investing-by-its-very-nature-is-contrarian/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```