Seth Klarman
Seth Klarman is a renowned value investor, billionaire hedge fund manager, and the Co-Founder and CEO of The Baupost Group, one of the world’s largest hedge funds with approximately $29 billion in assets under management. Since founding Baupost in 1982, Klarman has guided the firm’s investments with a disciplined and unconventional approach to value investing, earning a reputation as one of the most influential investors of his generation. He is the author of the highly regarded book Margin of Safety, which outlines his investment philosophy, and he served as editor and contributor to Benjamin Graham and David Dodd’s classic Security Analysis. Beyond his role at Baupost, Klarman shares his expertise through teaching engagements at leading universities and frequent appearances at major investment conferences.
Seth Klarman Professional Experience / Academic History
Professional Experience
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Co-Founder and CEO
Academic History
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M.B.A., Baker Scholar
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B.A., Economics, Magna cum Laude
CURRENT AFFILIATIONS
Co-Founder and CEO, Baupost Group
Board of Dean's Advisors, Harvard Business School
Board Member, Broad Institute
Vice Chair, Beth Israel Hospital’s Board of Managers
Board of Trustee, Beth Israel Hospital’s Board of Managers
Co-Chairman, The Klarman Family Foundation
BAUPOST GROUP
The Baupost Group is one of the world’s leading hedge funds, applying a disciplined value-investing framework with an event-driven bias to uncover opportunities across global markets.
The firm manages approximately $29 billion in assets under a broad and flexible charter, investing in diverse asset classes such as public equities, distressed and corporate debt, private debt, real estate, and private equity.
Since its founding in 1982, Seth Klarman has overseen Baupost’s investment strategy, now working alongside President Jim Mooney and a team of experienced investment partners and analysts to prudently steward client capital.
CAREER HIGHLIGHTS
In 2013, Klarman earned an estimated $350 million, ranking him among the top 25 highest-earning hedge fund managers in the world.
Over the course of his career, he has consistently been recognized as one of the 15 highest-earning hedge fund managers globally, underscoring his long-term success in capital markets.
Klarman has also made his mark outside of finance through philanthropy and politics. Once a major donor to the Republican Party, he publicly broke with it in 2016, becoming an outspoken critic of Donald Trump and shifting his support toward Democratic candidates and causes.
INVESTMENT PHILOSOPHY
Klarman is known for his highly conservative and risk-averse style, frequently holding large amounts of cash—sometimes more than 50% of assets—when attractive opportunities are scarce.
He is a contrarian investor, targeting unpopular or undervalued assets that offer a margin of safety, and has also employed derivatives and options strategies when appropriate.
His philosophy reflects the influence of Benjamin Graham’s teachings, emphasizing patience, discipline, and the resilience of market cycles.
MEDIA & PUBLICATIONS
Klarman and Baupost have been widely covered in leading financial publications.
His insights and career have been featured in Forbes, CNBC, Bloomberg, Financial Times, Wall Street Journal, Institutional Investor, Barron’s, MarketWatch, Business Insider, Seeking Alpha, Yahoo! Finance, and The Boston Globe.