Baupost Sifted Through Energy Carnage as Bargains Rare
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Seth Klarman said his $28.5 billion Baupost Group identified opportunities last year in energy after oil prices plunged, as other prospects for finding bargains dried up.
“Baupost wasted no time in redirecting additional investment team members into the energy area to sift through the carnage,” Klarman, 57, wrote in a year-end letter to investors, which was obtained by Bloomberg News.