Klarman is not the best performing clone over on AlphaClone, but his top 10 long holdings are still up a whopping 29% YTD.
Great quote from article:
“…the prevailing view has been that the market will earn a high rate of return if the holding period is long enough, but entry point is what really matters.”
“In our view there is no such thing as a value company. Price is the essential determinant in every investment equation. At some price, every company is a buy; at some price, every company is a hold; at at a still higher price every company is a sell. We do not really recognize the concept of a value company.”