Forgotten lessons of 2008 that are even more relevant today
In 2010 legendary investor and founder of the Baupost Group Seth Klarman described in his annual letter 20 lessons from the financial crisis which were either never learned or else immediately forgotten by most market participants. With him at the helm the Baupost Group has averaged around 18% and that since 1982 — a spectacular return. Some of these lessons are even more relevant today. I took the most important ones and updated it for the current market.
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Things that have never happened before are bound to occur with some regularity. You must always be prepared for the unexpected, including sudden, sharp downward swings in markets and…
