Feb 20, 2013

Seth Klarman on current market environment

Investing today may well be harder than it has been at any time in our three decades of existence. The Fed's relentless interventions and manipulations have left few purchase targets for Baupost. The underpinnings of our economy and financial system are so precarious that the un-abating risks of collapse dwarf all other factors.

~ Seth Klarman, 2012 Annual letter to partners, 2/17/2013

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