Seth Klarman Says Markets Are Too Bubbly

Very few hedge-fund managers are as widely and consistently acclaimed as Seth Klarman, the 56-year-old founder of the Boston-based Baupost Group. 
Seth Klarman thinks the stock market these days is akin to a Rorschach test. What does he see? Photographer: Daniel Acker/Bloomberg

When Seth Klarman speaks, listen carefully.

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