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Seth Klarman

Seth Klarman is the President and co-founder of Baupost Group, one of the largest hedge funds in the world. Seth Klarman popularized value investing philosophy in his book, Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor, which is now out of print and is sold for over $1,000 per copy. He was also the lead editor to the reissue of the classic investing book written by Benjamin Graham and David Dodd, Security Analysis, in 2008. Seth Klarman generally keeps a low profile and rarely speaks in public.

After college and before going to business school, Seth Klarman worked closely with Max Heine and Mike Price at Mutual Shares Corporation. In 1982, Seth Klarman’s professor at Harvard Business School recruited him to manage a pool of capital in the newly formed Baupost Group. With an initial capital of $27 million in 1982, Seth Klarman built one of the most successful hedge funds in the world over three decades. As of June 2016, Baupost had an AUM of $29.2 billion.

Seth Klarman was born in 1957 in New York City and grew up in Baltimore. He bought his first stock, Johnson & Johnson, when he was 10 years old with money he had saved and in high school, he took an interest in coin and stamp collecting, horse racing, and baseball. Seth Klarman earned his B.A. in economics from Cornell University and graduated magna cum laude in 1979. At Cornell, he was a member of the Delta Chi Fraternity. In 1982, Seth Klarman earned his MBA from Harvard Business School where he was a Baker Scholar. Seth Klarman gave a naming gift to build a Klarman Hall at both Cornell University and Harvard University in 2013 and 2014, respectively.

Seth Klarman was #449 on Forbes list in 2016 with an estimated net worth of $1.38 billion. He is a signatory of The Giving Pledge, committing to give at least 50% of his wealth to charitable causes. Seth Klarman is married to Beth Klarman and they have three children. They started The Klarman Foundation which has an asset of roughly $600 million as of end of 2014 which donates to medical causes, Jewish organizations, and Israeli causes. Seth Klarman is also a key investor in The Times of Israel, an online English-language newspaper which reports on Israel, the region, and the Jewish world.

Image Source: MoneyWeek
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