Business Insider: Klarman: Investors are asking the wrong question about the stock market

Business Insider has some notes from Baupost's latest investor letter.

  • Baupost is holding roughly 40% of its assets in cash and is returning $2 billion to investors at year end, according to a person familiar with the firm.
  • The firm's funds made almost no money in the third quarter of this year, but are up about 3% on the year, according to the person familiar with the matter.

Klarman: Investors are asking the wrong question about the stock market

 

More: Hedge Fund Third Quarter 2017 Investor Letters