‘Punishing’ December Takes Toll on Seth Klarman’s Baupost Group

The eclectic, value-driven investor’s cash position is currently at the low end of its historical range.

Seth Klarman, chief executive officer of The Baupost Group (Jeenah Moon/Bloomberg)

Seth Klarman, chief executive officer of The Baupost Group

(Jeenah Moon/Bloomberg)

The Baupost Group is the latest hedge fund firm to disclose that the late-year global financial markets selloff wiped out its profits for the year.

The eclectic investment firm headed by Seth Klarman told clients in its year-end letter that its partnerships finished the year roughly flat to down less than 1 percent, depending on the investor.

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