Trading Sardines
Navigating investor preferences in an irrational world
I was lucky enough to get my hands on a copy of Margin of Safety by Seth Klarman. For those of you who don’t know who he is, Seth Klarman is the founder and head of Baupost Group. He started investing with $27 million in 1982 and since then has generated a 20% compounded annual return net of fees. Today, he manages $30 billion. He is a firm believer in the principles of value investing and some people say he will be the next Warren Buffett. For those who get the chance to read his book, it’s full of wisdom and valuable strategies for investment and entrepreneurial success.
There is a section in his book where he talks about trading Sardines:
Keep reading with a 7-day free trial
Subscribe to The Solo Capitalist to keep reading this post and get 7 days of free access to the full post archives.