Two Types of Investing Inside Baupost, One of the World’s Most Successful Funds

A letter by Brian Spector of Baupost, encouraged and endorsed by the firm’s iconic value-investing president Seth Klarman, gives a rare inside look at this secretive investment firm. As Business Insider reports, Klarman asked Spector, whom Klarman describes as “an outstanding investor, collaborator, and mentor,” to write a letter directly to the company’s investors as Spector announced his retirement after a 17-year tenure. Spector described two types of investing: “needle in a haystack investing” and… Read More