Seth Klarman: The Secret to Outperforming the Market

Seth Klarman talks about the investment strategies and techniques that led him to outperform the market. He discusses the impact of Warren Buffett, Charlie Munger, and Ben Graham on his value investing approach. Klarman is known for his book Margin of Safety.

[@alexsteven.m6414]

I started investing in the stock market because of dividends. What matters, in my opinion, is that if you invest and earn more money in addition to dividends, you will be able to live off of dividends without selling. It implies that you can pass that on to your children, giving them a head start in life. I've invested over $600k in dividend stocks over the years; I continue to buy more today and will continue to do so until the price lowers even further.

[@fresnaygermain8180]

it's all hype! best to ignore the trend at the moment whether bullish or bearish, and stick to a proper trading plan preferably with expertise assistance.

[@yolanderiche7476]

@@fresnaygermain8180 Yeah, another reason I enjoy my day-to-day market decisions is that I'm being guided by a portfolio-coach. Given that their entire skill set is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, it's nearly impossible not to outperform. Since using a coach for two years and counting, l've earned more than $1.5 million in return on investment.

[@cryptogoth]

Great interview with a modest investor who deserve to be better known, thank you. At 10:40 when he says good management buys back their stock when it is undervalued: this appears to still be somewhat of a black art. AAPL buys back 0.25% of their stock in 2018, 2019, 2020 like clockwork, when it wasn't particularly overvalued, like they are dollar-cost-averaging their own stock. At 2022 Berkshire meeting, Buffett says they don't buy back more stock when they think it's more undervalued, they just think "do we feel good about owning our company more than other choices?" It's great to hear how these different great managers think, including Klarman.

[@proych78]

7:40 - he is speaking like a kind man, worries about small retail investors

[@InvestorCenter]

He definitely seems like a good guy!

[@minimead368]

I wonder when I hear things like what he says at 1:20 through to 1:30. then listen to 3:00 where he realises he can’t say what he wants to say. Public persona is different to your private persona and that gives me questions

[@LeonMusicful]

He sounds so nice and humble. Definitely a role model I'd like to follow.

[@Lepice99]

t was a pleasure to listen to you, Mr. Seth Klarman. Greetings from Portugal.

[@letsdanceonhere]

Thanks Mr. Klarman!

[@Joey-un3hy]

How to dodge obvious tricky question that the obvious answer would not be in your favour: Q: do you love market going down? A: (obviously the answer is yes for bargain hunting but can’t say that cos it sounds unethical) we provide liquidity when other people need it (what a brilliant answer! Lol)

[@allanjmcintyre3535]

Here's the place and date. "Seth Klarman interviewed by Charlie Rose at the Facing History and Ourselves New York Benefit Dinner. This event was at Chelsea Piers in New York City on November 1, 2011." It seems that the complete interview was online but is no longer present.

[@candyfloss184]

I have this book, margin of safety

[@InvestorCenter]

That book is worth a fair bit of money now lol

[@candyfloss184]

@@InvestorCenter yes I have both hard copy version and soft copy version

[@ndon85]

i downloaded the pdf version for free online

[@InvestorCenter]

@@ndon85 woah I have been looking for that. Could you send the link?

[@ndon85]

@@InvestorCenter i do not remember where i found it, but I have it as pdf. If you know a way to send me your email privately i will email it to you

[@franktaber]

What year is this from? Some gems in here for sure!

[@ndon85]

miss the old days when people were indicating the date of when the video was recorded. Now it has all come down to view baits

[@xikefocus]

He sounds like an honest, smart guy.

[@gmo709]

I assume the vid title is the name of the book.

[@azadsingh3605]

His book is high above margin of saftey Wait till it gets distressed

[@godbless0428]

I read it book margin of safety for more than 5 times till now, every time I read it, I always learn some things new

[@Sultan9924]

Is it better than Mary Buffett’s books?

[@ambully4928]

when i am unsure i re-read the book

[@justinbeghly1435]

I don’t believe it’s true that people are born value investors, few anyway. To me it’s learned.

[@wesleychambers16]

Value characteristics are genetics like patience. being patient is fighting human nature

[@justinbeghly1384]

@@wesleychambers16 for sure

[@Longtack55]

Tell me your secrets Seth, I won't tell a soul... I like how Charlie asked him if he was a "predatory capitalist" by using polite words, and Seth characterised it as doing the distressed seller a favour.

[@qualquan]

2011 interview

[@maxb5957]

Max was here

[@petersanmiguel1164]

Seth Klarman - Rhino.

[@ShootinSalad]

What none of them explains is how to know that when a stock goes down, how does that not confirm your humility that you might be wrong and dumping the business? Diversify? Then Buffet and Munger say diversifying is for the ignorant. There's always hedging in all this information and no clear direction.

[@PurpleHaze1824]

That's the key amigo. From what I've read, it's reviewing the facts and seeing if your thesis changed.

[@williamc4221]

All of the greatest investors have been wrong at times.

[@Aaron-ed1xp]

Bro you’re overcomplicating things entirely

[@erikberg849]

Thank you Mr Klarman for telling the truth: Mike Bloomberg and the rest of US MSM are making it up! Thank you!

[@thegreat9481]

If the fundamentals of the business deteriorate thats your cue. not the price

[@hl3641]

Bill Hwang really need this… lol

[@CaseyJMack]

Charie Rose is such a bad interviewer...talks too much, trying to put words in the interviewee's mouth, doesn't really listen, asks leading questions...etc...

[@redcae1911]

my brother lost his book 😚😚

[@candyfloss184]

343 rd viewer

[@EGfocus33]

This interviewer ruins Almost every interview I see him in. He Believes people want to hear his voice 🙄

[@Aaron-ed1xp]

Factsss. And how is he STILL so clueless about investing lmao?!?! Dudes talked to like all the best investors.

[@chocolateteapot697]

@@Aaron-ed1xp clueless in what regard? If he analyses a business, likes it and holds it, where is the cluelessness?

[@Aaron-ed1xp]

@@chocolateteapot697 I was talking about the interviewer.

[@chocolateteapot697]

@@Aaron-ed1xp yeah my bad, it's Charlie Rose isn't it, has a great habit of sounding like he knows absolutely nothing

[@JT-ko2ib]

@@Aaron-ed1xp If he's talking and not listening, that's why.

[@adelalali5165]

I made 10m$

[@wiv2631]

I see the similar characteristics in Klarman and Buffett. Arrogance is too strong a word. A better description would be self effacing self confidence blended with the knowledge of the importance of being honest with himself and others.

[@MoneyMindsetM]

To beat the Market you've to Invest serious Bucks and dig out information no one else has yet!

[@Lde790]

Invest serious bucks? Beating the market is based on percentages not on total equity.

[@ndon85]

lol you are delusional

[@jakob7344]

@@jacklan4103 let me guess: it's Ally financial