Baupost Group

Seth Klarman’s Best Is About Half As Good As The S&P500

The Baupost Group gained about 15% last year, even as it returned $4 billion to investors and kept 40% of its cash on the sidelines because there were simply no opportunities at all to make money in 2013. Read more »

Baupost Group, Paulson & Co. and Cargill’s hedge fund unit think it’s awfully fishy that the corpse of Lehman Brothers is so eager to sell almost $3 billion in bankruptcy claims to Elliott Management and King Street Capital Management for a little over $1 billion. Especially since CarVal would like to pay almost $1.5 billion for the same claim.

U.S. Bankruptcy Judge James Peck thinks it’s all a little strange, too. But, to use the parlance of our times, tough shit. Read more »