“Risk is not inherent in an investment; it is always relative to the price paid. Uncertainty is not the same as risk. Indeed, when great uncertainty—such as in the fall of 2008—drives securities prices to especially low levels, they often become less risky investments.” —Seth Klarman
Links - 03/29/2023
Links - 03/29/2023
Links - 03/29/2023
“Risk is not inherent in an investment; it is always relative to the price paid. Uncertainty is not the same as risk. Indeed, when great uncertainty—such as in the fall of 2008—drives securities prices to especially low levels, they often become less risky investments.” —Seth Klarman