The Baupost Group, every mention
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every year anyone Ted Seides 36Seth Klarman 16Reuben Munger 5Herb Wagner 2Bill Orem 2Michael Mauboussin 1Michael Leffell 1Jim Dunn 1Eric Brooks 1
Verbatim, from the transcripts: the passages where The Baupost Group comes up
Operator-Led Private Equity at Ethos - Erik Brooks (EP.504)
- ▶ 2:40 Ted Seides Eric's experience prior to founding Ethos in 2019 spanned privatizations in Eastern Europe, value investing at Baupost, and 20 years at Abri Partners.
- ▶ 10:53 Eric Brooks Came back to Harvard Business School, worked for Seth Klarman at the Baupost Group while I was there, which was a transformative experience.
Herb Wagner – Opportunistic Value at Finepoint Capital (EP.460)
- ▶ 0:28 Ted Seides My guest on today's show is Herb Wagner, the managing partner of FinePoint Capital, a four billion dollar opportunistic value hedge fund he founded 11 years ago after spending 14 years at Baupost and two at Appaloosa under legendary…
- ▶ 15:43 Ted Seides When you think about the Appaloosa style, the Baupost style, almost opposite ends of the spectrum in terms of risk taking, what did you see, say first at Appaloosa in seizing that opportunity when it's there? 10 times in the scene
- ▶ 1:02:52 Herb Wagner When I look back at Seth and Baupost and what a phenomenal culture and firm that he built, I took it for granted a little bit that was going to be easy. 2 times in the scene
Kristof Gleich – Boutique Managers and Active ETFs at Harbor Capital (EP.411)
- ▶ 2:15 Ted Seides This year's event takes place on October 24th in Boston and features a ridiculous lineup of speakers, including Boston investment legends, Seth Klarman from Baupost, David Fialco from General Catalyst, Nancy Zimmerman from Bracebridge,…
Stephen Nesbitt – Innovation in Private Markets for RIAs (EP.410)
- ▶ 5:48 Ted Seides This year's event takes place on October 24th in Boston and features a ridiculous lineup of speakers, including Boston investment legends Seth Klarman from Baupost, David Fialco from General Catalyst, Nancy Zimmerman from Bracebridge, Will…
Michael Leffell – Opening Doors to Niche Private Opportunities at 10 East (EP.373)
- ▶ 48:08 Michael Leffell Trying to fight this in court would not be a winning opportunity, and we settled first with Baupost, which made an absolutely brilliant investment by purchasing the subrogated claims of the insurance companies, and we settled with them for…
Ana Marshall – The Climb to Investment Excellence (EP.360)
- ▶ 4:58 Ted Seides Seth Carman from Baupost, Sir Christopher Hahn from TCI, Paul Singer from Elliott,
Seth Klarman – Timeless Value Investing (EP.328)
- ▶ 4:25 Ted Seides My guest on today's show is Seth Klarman, legendary value investor and president of the Baupost Group, an investment firm founded in 1982 that manages twenty seven billion dollars. 4 times in the scene
- ▶ 19:04 Seth Klarman As soon as I graduated, I had an offer to go back to mutual shares, but serendipitously had an opportunity to come in at the ground floor of Baupost being formed, and that's what I chose. 5 times in the scene
- ▶ 26:05 Seth Klarman One of the things that Baupost has done over the years, we follow the basic principles.
- ▶ 33:31 Seth Klarman So in effect, how does Baopos practice value investing? 2 times in the scene
- ▶ 38:36 Ted Seides I'd love to dive into how you apply a lot of this at Baupost, and maybe the first part of that investment process is this idea of sourcing these opportunistic areas that might be ripe for some inefficiency. 4 times in the scene
- ▶ 44:16 Ted Seides Once you've found one of these opportunities, pattern recognition, canvassing wide, what does a fully vetted process at Balpost look like from seeing the opportunity to doing the deep dive to when you're ready to make an investment?
- ▶ 48:52 Ted Seides How have you gone about evolving that decision-making process as Baupost has grown in number of people over the years?
- ▶ 51:38 Seth Klarman Sizing has been one of the strengths of Baupost over its history. 2 times in the scene
- ▶ 55:19 Seth Klarman Battlepost was founded on the principle of protecting the capital, first and foremost, of the families that founded it. 3 times in the scene
- ▶ 1:09:36 Seth Klarman When there's hardly any distressed credit, that post has to look elsewhere.
- ▶ 1:11:28 Ted Seides I'd love to take a step back and talk a little bit about the business of Baupost. 2 times in the scene
- ▶ 1:14:39 Ted Seides How have you thought about the legacy of Baupost? 4 times in the scene
- ▶ 1:29:17 Seth Klarman This summer, Baupost will have three girls who invest, but about a dozen interns total spread out across the organization from IT and HR and communications.
- ▶ 1:33:38 Seth Klarman I've never talked about it, but in the earliest days of Baupost, we had this great idea that was a closed-end publicly traded mutual fund that had omitted some dividends, and it was in arrears, and as you know, they have to clean those up…
William Orum – Mission-Aligned Allocation at Capricorn (Climate Solutions EP.2, Capital Allocators EP.301)
Sustainable Investing 9: Reuben Munger – Private Capital Perspective (Capital Allocators, EP.147)
- ▶ 3:59 Ted Seides Ruben started Vision Ridge in 2008 after a decade of value investing experience at the Baupost Group. 2 times in the scene
- ▶ 6:49 Reuben Munger And there was a firm called Baupost that was running a search and they said, oh, you probably haven't heard of them. 4 times in the scene
- ▶ 19:33 Reuben Munger And so it was very reminiscent of Baupost approaches where we once owned the all SEC portfolio, meaning not a football thing, but a under investigation thing, because effectively, if you're under investigation, most investors turn away.
Michael Mauboussin – Who's on the Other Side (Capital Allocators, EP.99)
- ▶ 10:54 Michael Mauboussin We come to believe the same thing, and there I like to invoke this really wonderful line from Seth Klarman at Baupost, where he says, value investing in its core is the marriage between a contrarian streak and a calculator, which is to say…
- ▶ 41:56 Ted Seides If you take outside of Baupost, which is a notorious example of, you know, Seth and the team have run for a long time with a big healthy cash balance and from their returns have sort of earned the right and trust of their investors to do…
Ted Seides – Interviewing and Manager Meetings (Capital Allocators, EP.94)
- ▶ 37:08 Ted Seides So someone like Warren, obviously, Seth Klarman at Bowpost, just a brilliant, brilliant communicator.
Bill Spitz – Seasoned Commodore (Capital Allocators, EP.37)
- ▶ 16:14 Ted Seides So to give a fun, easy example, 1520 years ago, many people didn't know who Baupost or Seth Klarman was.