Topic: Seth Klarman
3 posts tagged “Seth Klarman”.
The Real Risks in Growth Investing
Most investors confuse a bumpy price with real danger. The risks that actually destroy capital in growth investing are paying too much, a moat quietly eroding, and management misusing cash.
Mr Market Is Irrational — Use It
Markets often sell good businesses for reasons that have nothing to do with the businesses themselves. When the underlying cash flows are intact, that mispricing is an opportunity, not a warning.
Margin of Safety Is Still King
Seth Klarman's core principle — only pay a price that leaves room to be wrong — applies just as much to growth investing. You simply apply it to future cash flows rather than today's book value.