Money and Finance
- Baupost Sifted Through Energy Carnage As Bargains Rare
If anyone happens to have the full Baupost year-end letter and could pass it along, I'd be extremely grateful. Link to article: Baupost Sifted Through Energy Carnage as Bargains Rare Seth Klarman said his $28.5 billion Baupost Group identified...
- The Great Baupost Madoff Claim Trade That Made A Big Madoff Feeder Fund A Loser Again
Thanks to Matt for passing this along. In the summer of 2010, James Mooney, a partner at Baupost Group, the massive $24 billion Boston hedge fund run by investment legend Seth Klarman, sensed there was money to be made acquiring customer claims of Bernard...
- Baupost Co-portfolio Manager Wagner To Start His Own Firm
Herb Wagner, the Baupost Group LLC executive appointed as Seth Klarman’s co-portfolio manager two years ago, will leave the firm at the end of 2012 to start his own investment company, according to a letter sent to the hedge fund’s clients yesterday....
- Fortune: Big Winner In Government's Jpmorgan Suit: A Hedge Fund
Found via Santangel’s Review. In a Wall Street vs. Wall Street fight, the NY AG Eric Schneiderman just gave hedgie Seth Klarman the upper hand. A hedge fund manager who made money betting against the housing bubble, and the terrible mortgage loans that...
- Baupost's Klarman Sees Poor Outlook For Stocks
Update (Sept. 2010): A great transcript came out in the September/October Financial Analysts Journal: HERE....................Star hedge fund manager Seth Klarman sees few bargains in the current environment and predicted on Tuesday that the stock market...
Money and Finance
Seth Klarman's Baupost Hedge Fund Loses More Than $150 Million On Gold Miners
In October, Marcel “Mac” DeGuire became president and chief operating officer of Guyana Goldfields, an exploration-stage company listed on the Toronto Stock Exchange that has been losing money trying to develop gold mines in South America for years. Within a few weeks DeGuire was helping to convince investors to buy into a Guyana Goldfields financing for C$3.40 a share, a significant fund raise for the company of some $100 million that closed in February. Eleven days later, however, DeGuire resigned from Guyana Goldfields, citing “personal reasons.” The stock has plunged by more than 60% in 2013 and is now changing hands for C$1.24.
It might be surprising for some market watchers to learn that Guyana Goldfields’ biggest shareholder is the Baupost Group, the massive Boston hedge fund firm run by Seth Klarman. Baupost owns 19.7% of Guyana Goldfields, a stake recently worth about $30 million. A billionaire hedge fund genius, Klarman is one of the most revered money managers of his generation, a value investor who likes to steer clear of controversy and public attention, keep his head down and concentrate on his investments. His track record and reputation are stellar, which makes it a little strange that Baupost has gotten behind Guyana Goldfields and some other long shot, some might even say iffy, gold mining ventures with penny stocks and high executive pay. These companies often make sure to point out that Baupost is a major investor in their shares in investment presentations.
- Baupost Sifted Through Energy Carnage As Bargains Rare
If anyone happens to have the full Baupost year-end letter and could pass it along, I'd be extremely grateful. Link to article: Baupost Sifted Through Energy Carnage as Bargains Rare Seth Klarman said his $28.5 billion Baupost Group identified...
- The Great Baupost Madoff Claim Trade That Made A Big Madoff Feeder Fund A Loser Again
Thanks to Matt for passing this along. In the summer of 2010, James Mooney, a partner at Baupost Group, the massive $24 billion Boston hedge fund run by investment legend Seth Klarman, sensed there was money to be made acquiring customer claims of Bernard...
- Baupost Co-portfolio Manager Wagner To Start His Own Firm
Herb Wagner, the Baupost Group LLC executive appointed as Seth Klarman’s co-portfolio manager two years ago, will leave the firm at the end of 2012 to start his own investment company, according to a letter sent to the hedge fund’s clients yesterday....
- Fortune: Big Winner In Government's Jpmorgan Suit: A Hedge Fund
Found via Santangel’s Review. In a Wall Street vs. Wall Street fight, the NY AG Eric Schneiderman just gave hedgie Seth Klarman the upper hand. A hedge fund manager who made money betting against the housing bubble, and the terrible mortgage loans that...
- Baupost's Klarman Sees Poor Outlook For Stocks
Update (Sept. 2010): A great transcript came out in the September/October Financial Analysts Journal: HERE....................Star hedge fund manager Seth Klarman sees few bargains in the current environment and predicted on Tuesday that the stock market...