Seth Klarman Goes Nuts On The Fed In His Latest Investor Letter

Update: There are more excerpts HERE.

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Thanks to Will for passing this along. I haven’t seen a copy of the whole letter, but there is a very short excerpt in this article.

Seth Klarman, the legendary head of Boston based hedge fund Baupost Group, sent out his letter to investors this week.

He reports that his fund is up for the month, quarter, and year, but is sending out specifics in separate quarterly reports.

That said: The juicy part of this letter has nothing to do with specific investments or anything like that. What's interesting is that, like some of his industry peers (David Einhorn), Klarman has words for the Fed, and those words are all about QE3.

He said that like QE1 and QE2, QE3 is no lasting solution. He sees it, instead, as "attempted manipulation of Americans' behavior."