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☆ Legendary investor Seth Klarman on investing challenges: We've been in an 'everything bubble'
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLegendary investor Seth Klarman on investing challenges: We've been in an 'everything bubble'Legendary investor Seth Klarman, The Baupost Group CEO, joins 'Squawk Box' to discuss the changing market landscape, the challenges facing investors, value investing in today's market, and more.

Persons: Seth Klarman, We've Organizations: Baupost

☆ Legendary investor Seth Klarman on investing: Look for the most inefficient pockets in the world
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLegendary investor Seth Klarman on investing: Look for the most inefficient pockets in the worldLegendary investor Seth Klarman, The Baupost Group CEO, joins 'Squawk Box' to discuss the changing market landscape, where to find value in today's market, cryptocurrency, and more.

Persons: Seth Klarman Organizations: Baupost

☆ Seth Klarman explains why he avoids crypto yet has a Coinbase investment
▼ + stars: | 2023-06-27 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Veteran hedge fund manager Seth Klarman said Tuesday that his firm's investment in a key player in the crypto industry was a bet on cash, not the future of digital currency. Klarman's Baupost Group reported a $29 million stake in Coinbase at the end of the first quarter , but Klarman said on " Squawk Box " that it was a convertible debt investment and should not be seen as a bullish bet on Coinbase or crypto more broadly. "Our team is focused in the sector because there's been so much trouble in the sector, so we actually are invested in convertible bonds of Coinbase. Coinbase reported $5 billion in cash and cash equivalents at the end of the first quarter , compared with $3.4 billion of long-term debt. Klarman said he struggles to see the long-term case for crypto and has decided to stay on the sidelines, other than the debt investment.

Persons: Seth Klarman, Klarman, there's, Coinbase, I've, I'm Organizations: Klarman's Baupost, U.S . Securities, Exchange Locations: Coinbase

☆ Seth Klarman says regular investors make this mistake that ruins their returns
▼ + stars: | 2023-06-27 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

Seth Klarman has some words of advice for regular investors who are following the guidance of Warren Buffett, and others, and are putting their money into stock index funds. In other words, when using index funds, you have to stay in the markets to capture the upside when it comes. The notable value investor also gave one other word of caution on index funds. Many financial advisors recommend steady buying over time when investing in index funds. Klarman is the editor of the recently released seventh edition of Benjamin Graham and David Dodd's investing classic "Security Analysis."

Persons: Seth Klarman, Warren Buffett, Benjamin Graham, David Dodd's Organizations: Baupost, Bank of, Klarman

☆ Seth Klarman says investors face the challenge of an 'everything bubble'
▼ + stars: | 2023-06-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

When billionaire hedge fund manager Seth Klarman looks at the investing world today, he sees asset bubbles pretty much everywhere. Historically low interest rates, even zero rates, have precipitated that bubble." With the investing world now ruled by trendy bubble-like investments such as Bitcoin and meme stocks, Klarman said the need for a sound, practical approach to investing is vital. In a letter to clients at the end of 2022, he accused the U.S. central bank of constructing a "financial fantasyland" of artificially low interest rates and liquidity pumping. In the current environment, investors face challenges relating to economic uncertainty and a central bank holding interest rates high to battle inflation.

Persons: Seth Klarman, we've, Klarman, Benjamin Graham, David Dodd, You've, Warren Buffett — Buffett, Columbia University —, Graham, Dodd Organizations: CNBC, Cornell, Columbia University, Buffett, Liberty, Federal Reserve Locations: Boston, U.S

☆ SVB agrees to sell its investment banking division
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

June 18 (Reuters) - SVB Financial Group (SIVBQ.PK) said on Sunday it has entered into an agreement to sell its investment banking division, SVB Securities, to a group led by Jeff Leerink and backed by funds managed by The Baupost Group. The bidder group led by Leerink, who is chief executive of SVB Securities, will acquire the investment banking business for a combination of cash, repayment of an intercompany note, and a 5% equity instrument, the company said. First Citizens BancShares Inc (FCNCA.O) bought all the loans and deposits of the failed bank in March, leaving some $90 billion in securities with the FDIC for sale. The lender continues to evaluate strategic alternatives for its division, SVB Capital, and company's other assets and investments, it said. Reporting by Akanksha Khushi in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Jeff Leerink, Leerink, Akanksha, Leslie Adler Organizations: SVB Financial, SVB Securities, Baupost, Federal Deposit Insurance Corporation, Silicon Valley Bank, BancShares Inc, SVB, Suisse, UBS, Thomson Locations: SVB, reverberated, Bengaluru

☆ Hedge funds piled into these A.I. stocks during the first quarter
▼ + stars: | 2023-05-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Securities filings released this week signaled that many hedge funds also appear to be catching the AI bug. Betting on AI heavyweights Alphabet popped up as one of the most common AI plays among big investors in the first quarter. Microsoft bet billions on AI capabilities, funneling another multibillion-dollar investment in January into ChatGPT maker OpenAI. Beyond Alphabet and Microsoft Outside heavyweight giants Alphabet and Microsoft, many hedge funds beefed up other AI-related holdings in the first quarter. His Nvidia bet equaled roughly $1.4 billion at the end of March.

☆ Baupost’s Seth Klarman ups his stakes in Alphabet, Coinbase to ride the tech rebound
▼ + stars: | 2023-05-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Baupost's Seth Klarman added to his technology holdings in the first quarter, including Google parent Alphabet and Coinbase , to take advantage of the big rebound in the sector, according to a new regulatory filing. Meanwhile, Klarman hiked his Coinbase bet by nearly 80% to $29 million. The cryptocurrency exchange was one of the biggest winners in the first quarter, jumping more than 90% to rebound from a dismal 2022. And just like Buffett, Klarman pivoted to technology in recent years to take advantage of growth stocks' leadership in the market. He gained $1.6 billion from hedging last year, which helped offset losses on the long side, the FT reported.

☆ Exclusive: Irenic Capital urges Theravance to conduct review, add shareholder to board
▼ + stars: | 2023-02-27 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 27 (Reuters) - Activist investor Irenic Capital Management is urging Theravance Biopharma Inc (TBPH.O) to initiate a review of strategic alternatives, including a full sale, and to add a shareholder to its board, according to a letter seen by Reuters. Irenic owns a 4.2% stake in the biotechnology company and has criticized its lagging valuation and stock-based compensation to its chief executive and board chair, Rick Winningham. Irenic also called on Theravance to use excess cash to immediately issue a $300 million special dividend to shareholders. They suggested Dodge as a director candidate but wrote in the letter that the company rejected him as a candidate. Irenic is the latest hedge fund to propose changes at poorly performing biotech companies.

☆ High-profile hedge funds dive back into beaten-down tech stocks to capitalize on the big comeback
▼ + stars: | 2023-02-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Many high-profile hedge funds jumped back into technology stocks — the group that hurt their alpha the most last year — just in time to benefit from the furious comeback in the new year. These big investors loaded up on stocks that were among last year's biggest losers amid the Federal Reserve's aggressive rate hikes. Hedge funds overall saw significant negative long alpha (-12.1%) last year, with the single biggest contributor being exposure to info tech, according to Goldman Sachs. .IXIC 1Y mountain Nasdaq Composite The rebound in technology stocks came fast and furious in the new year. Hedge funds overall were able to beat the market significantly.

☆ Baupost’s Seth Klarman hikes his Meta, Amazon stakes right before the big rebound
▼ + stars: | 2023-02-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Baupost's Seth Klarman drastically increased his stake in some of the biggest technology companies in the fourth quarter, just before the group staged a big comeback, according a new regulatory filing. Klarman hiked his Meta bet by 150% to $208 million, and upped his Amazon stake by 300% to a bet worth more than $83 million. Meta has risen nearly 50% year to date, while Amazon has gained nearly 19%. And just like Buffett, Klarman has increased his exposure to the tech sector in recent years to take advantage of its explosive growth. Other than technology stocks, Klarman added small new bets on cable television provider Altice and Herbalife last quarter.

☆ Should FTX users be viewed as creditors or asset owners? The answer could mean the difference between recovering funds or getting short-changed.
▼ + stars: | 2022-12-22 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

Some FTX customers with funds trapped on the exchange want to be viewed as asset owners, the Financial Times reported. Lawyers plan to argue that the funds still held by FTX are "custody" assets that are owned by the users and should be repaid faster. Otherwise, being seen as unsecured creditors could mean waiting longer and only getting a fraction of their money back. Otherwise, being viewed as unsecured creditors could mean waiting longer and only getting a small fraction of their money back. Meanwhile, some FTX users may choose not to wait to see what happens.

☆ Investor Cat Rock reduces stake in Just Eat Takeaway - SEC filing
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Dec 16 (Reuters) - U.S. investor Cat Rock, previously the second-largest shareholder in meal delivery firm Just Eat Takeaway.com (TKWY.AS), has sold part of its stake, according to an SEC filing. The filing on Dec. 15 showed the stake standing at 4.93% with 10.65 million shares as of Dec. 12. Refinitiv data showed the investor had previously held around 14.79 million shares, or 6.85%. The largest shareholders in Just Eat are now founder Jitse Groen with 7.1%, Baupost Group with 6.5%, Caledonia Investments with 6.15%, and UBS Asset Management with 5.85%. Reporting by Toby Sterling Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Hedge funds bought the dip in Chinese stocks — here are their favorite ADRs
▼ + stars: | 2022-11-27 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Hedge funds bought the dip in Chinese stocks last quarter after many technology names sold off amid political uncertainty, according to Goldman Sachs. U.S. hedge fund ownership of Chinese ADRs increased modestly during the third quarter after declining for four straight quarters, according to Goldman. At the start of the fourth quarter, 20% of equity hedge funds had a long position in at least one Chinese stock, the firm said. Alibaba remained the most popular China ADR among U.S. hedge funds, and it's the only Chinese stock to be included in Goldman's Hedge Fund VIP list . Brad Gerstner's hedge fund Altimeter Capital bought $69 million worth of Pinduoduo last quarter, according to a filing.

☆ Baupost’s Seth Klarman slashes Amazon and Alphabet stakes, picks up a car dealership stock
▼ + stars: | 2022-11-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Baupost's Seth Klarman cut his holdings in Amazon and Google-parent Alphabet dramatically last quarter, while picking up a few stocks in the volatile market, a new filing showed. The longtime value investor reduced his stakes in Alphabet and Amazon by nearly 60% each, according to Baupost's latest 13F filing with the Securities and Exchange Commission. Klarman also exited his position in Intel last quarter. Alphabet and Intel had been among Baupost's top 10 holdings at the end of the second quarter. Technology stocks have borne the brunt of this year's market sell-off as rising rates dented the appeal of growth-oriented names.

☆ Goldman Sachs' humbling U-turn on its consumer banking ambitions
▼ + stars: | 2022-10-19 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +5 min

Third-quarter results from the big Wall Street banks are now behind us, and they were … pretty good, all things considered? Goldman Sachs reported yesterday, and while it may not be the biggest nor the best bank (OK, No. Trading and dealmaking made the reputation of the 153-year-old Wall Street firm, but the spotlight lately has been on its struggling consumer banking unit, Marcus. The consumer business "doesn't make money at the moment," Solomon acknowledged, but he added: "The deposits are hugely valuable. From Wall Street darlings to prey.

☆ Billionaire hedge fund titan Seth Klarman reveals how he finds investments that meet his standards and his 2 favorite principles of investing
▼ + stars: | 2022-10-18 | by ( David Rubenstein | ) www.businessinsider.com time to read: +7 min

David Rubenstein: You and Warren Buffett, with whom you have often been compared, are probably the two best-known and successful value investors. What skills are required to be a successful value investor? Simon and Schuster: The basic practice of value investing is trying to buy dollars for 50 cents, sometimes 60 or70 cents — in effect, buying bargains. Early on in the 1920s and 1930s, Benjamin Graham wrote about value investing. In terms of the requirements to be a value investor, the skill set, first of all, people need to be patient and disciplined.

☆ This ETF topped $1 billion in assets this week as investors flock to managed futures strategies
▼ + stars: | 2022-10-14 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

One of the best performing categories of the exchange-traded fund industry in 2022 eclipsed a key milestone this week, as the iMGP DBi Managed Futures Strategy ETF (DBMF) topped $1 billion in assets under management Managed futures strategies , which go short and long various contracts to make large macro bets, are one of the best performing sectors of funds in 2022. The fund is by far the largest managed futures ETF, according to VettaFi. It uses performance data from hedge funds to derive the positions likely held by large funds in key futures contracts, such as stocks, gold and oil. Before this year, the ETF's hedge fund-like strategy and small size made it difficult to attract new investors, Beer said. You want the space," Beer said.

☆ 'Moneyball' manager Billy Beane says Warren Buffett's investing lessons apply to baseball too - and Seth Klarman agrees
▼ + stars: | 2022-09-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

"Moneyball" star Billy Beane said Warren Buffett and Charlie Munger's lessons apply to baseball. Author Michael Lewis profiled Beane in "Moneyball," and Brad Pitt played the baseball executive in the movie adaptation of the book. "It's about finding value in athletes, in baseball players — but those principles apply across areas," the billionaire investor and Baupost Group CEO said. Klarman has been heralded as "the next Warren Buffett," including by the Berkshire chief himself. Read more: Table tennis champion Ariel Hsing has been friends with Warren Buffett for more than a decade.

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