The Boston-based fund, which manages roughly $30 billion, posted 'high single-digit gains' for 2019, blaming value stocks' extended slump and 'a few mistakes.'
This story requires our BI Prime membership. To read the full article,Billionaire Seth Klarman's annual letter to investors was wide-ranging, touching on topics including private equity's pile of unused money, Modern Monetary Theory, WeWork, and foreign policy in the Middle East.
He explicitly linked Neumann's $1.7 billion WeWork exit package as an "epitome of capitalist excess." Klarman is not only concerned about seemingly limitless money flying around the private sector; he called Modern Monetary Theory, an economic theory supported by people like"Running massive budget deficits in a period of strong economic growth puts the U.S. on the road to MMT and money printing without end, in service of a permanent prosperity that has always eluded mankind.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Baupost boss Seth Klarman warns bull market won't last, hoards cash - Business Insider'The rocket fuel that has propelled markets in 2019 will run out,' Seth Klarman, whose nickname is the 'Oracle of Boston,' told his investors.
Read more »
Hedge fund giant Seth Klarman says the 'rocket fuel' feeding this rally will soon 'run out'Hedge fund giant Seth Klarman wrote in a letter to investors that “the rocket fuel that has propelled markets in 2019 will run out.”
Read more »
The Jonas Brothers Get Hammered While 'Day Drinking' With Seth MeyersNick, Joe and Kevin Jonas joined the 'Late Night' host and his friends for another installment of the fun, drunken segment.
Read more »
Watch the Jonas Brothers Go Day Drinking With Seth MeyersWatch the Jonas Brothers go day drinking with Seth Meyers on LateNight
Read more »