The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.

- Seth Klarman

You must buy on the way down. There is far more volume on the way down than on the way back up, and far less competition among buyers. It is almost a…

- Seth Klarman

The single greatest edge an investor can have is a long-term orientation.

- Seth Klarman

In investing it is never wrong to change your mind. It is only wrong to change your mind and do nothing about it.

- Seth Klarman

The best protection against risk is knowing what you are doing.

- Seth Klarman

Loss avoidance must be the cornerstone of your investment philosophy.

- Seth Klarman

Successful investors tend to be unemotional, allowing the greed and fear of others to play into their hands. By having confidence in their own analys…

- Seth Klarman

People should be highly sceptical of anyone's including their own, ability to predict the future, and instead pursue strategies that can survive what…

- Seth Klarman

The near absence of bargains works as a reverse indicator for us. When we find there is little worth buying, there is probably much worth selling.

- Seth Klarman