jim mooney, baupost
But Klarman has taken a more cautious tone, warning of potential ups and downs. A new analyst joined the Private Investment Group last year and “several more” are joining the public and private teams this year, Klarman said. Yahoo is part of Verizon Media. Klarman also told investors that he is sticking with his long-successful strategy of valuing specific assets instead of making broad-based macro calls about growth or currency movements, for example. Find out more about how we use your information in our Privacy Policy and Cookie Policy. “Exuberant investors have focused on the potential benefits of stimulative tax cuts while mostly ignoring the risks from America-first protectionism and the erection of new trade barriers,” Klarman wrote in the 20-page letter. ", "We remain in a market that is broadly expensive and largely indifferent to risk," Mooney wrote in closing the letter. That's because when there is low volatility, investors tend to take on more leverage – borrowing money to juice bets – which could trigger problems later on. Subscribe to Such selling would, in turn, further increase volatility which would call for more de-leveraging and yet more selling. Eyewitness? Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. You can change your choices at any time by visiting Your Privacy Controls. That can then set off a cycle: volatility leads to selling, which leads to volatility, which leads to selling. "BI"   Newsletter, By clicking again, you agree to our Klarman, whose letters are some of the most widely read in the investment industry, also announced a key organizational change. Jim Mooney, who heads Baupost’s public investments group, will take on the additional role of president, where he will be responsible for staffing, recruiting and promotions, among other things. BOSTON (Reuters) - Billionaire money manager Seth Klarman, whose Baupost Group hedge fund ranks among the world’s largest and closely watched, warned that U.S. President Donald Trump is creating considerable uncertainty that will translate into risk for investors. He said Baupost made money last year, earning “high single-digit gains” after having lost money in 2015 when the fund posted a “mid-single-digit decline.”, Klarman was mum on specific investments, noting only that “the European pipeline remains full.”, Klarman, who has run the Boston-based fund since 1982, said he plans to oversee investments for many years and announced an organizational change to help “extend my tenure.”. Baupost's Jim Mooney told clients that a signature feature of today's markets – low volatility – could be the harbinger of a crisis to come. All quotes delayed a minimum of 15 minutes. I have asked Jim Mooney to take on the role of president of Baupost…. In a second quarterly private letter that was reviewed by Business Insider, Baupost said that the problem lies with a signature feature of current markets: low volatility.

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