Person Dossier
Person
Seth Klarman
2 Books2 Highlights27 Concepts
Seth Klarman appears across 2 books in the Prime Movers archive, with 2 supporting highlights from primary source biographies. Linked to 27 strategic concepts.
Strategic Concepts & Mechanics
Risk DoctrineConsistently Not Stupid Beats BrilliantSignature MoveIntrinsic Value Through Cash Flow Not MomentumSignature MoveStock as Business Ownership Not Ticker SymbolCornerstone MoveMr. Market as Servant Not MasterStrategic PatternFree Cash Flow as Valuation BedrockOperating PrincipleBottom-Up Only ValuationSignature MoveIndependent Thought Over Herd RegressionOperating PrincipleSimplicity as Performance AdvantageCornerstone MoveBuy at One-Third of Sellout Value Then WaitSignature MoveShort-Term Predictions in the Too-Hard PileCornerstone MoveMargin of Safety Renders Prediction UnnecessaryDecision FrameworkChecklist Before CommitmentDecision FrameworkPrice Versus Value DisciplineRisk DoctrineProjections as Dressed-Up DelusionOperating PrincipleStock Price Monitoring DisciplineCapital StrategyFee Structure as Values ExpressionSignature MoveTwo-Year Minimum Hold RuleRisk DoctrineManagement Personal Stress AssessmentSignature MoveInformation Sequencing DisciplineDecision FrameworkBridge as Investment TrainingIdentity & CultureInner Scorecard Over Outer RecognitionDecision FrameworkBehavioral Circuit BreakersSignature MoveNetwork Building Through Giving FirstSignature MoveHero Modeling as Learning MethodSignature MoveEnvironmental Design Over WillpowerOperating PrincipleGeographic Arbitrage for Mental ClarityStrategic PatternEcosystem Win-Win Analysis
Primary Evidence
"A margin of safety is achieved when securities are purchased at prices sufficiently below underlying value to allow for human error, bad luck, or extreme volatility in a complex, unpredictable and rapidly changing world. —SETH KLARMAN, MARGIN OF SAFETY, 1991"
Source:Charlie Munger
"Ben Graham and David Dodd, Marty Whitman, John Mihaljevic, Seth Klarman, and Joel Greenblatt."
Source:The Education of a Value Investor