BALTIMORE ( Stockpickr) -- Investors are willing to pay a lot for insights from Baupost Group's Seth Klarman, the money manager behind the famous value-focused hedge fund.
That's not limited to the management fees Baupost charges -- even Klarman's book commands a hefty fee by most hardcover standards. A copy of the out-of-print 1991 title
Margin of Safety: Risk Averse Investing Strategies for the Thoughtful Investor
will set you back between $700 and $3,000.
No, there's no Kindle version.
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But there's a less pricey way to peer into Klarman's value investing methodology: Take a look at his 13F. Institutional investors with more than $100 million in assets are required to file a 13F -- a form that breaks down their stock positions for public consumption. From hedge funds to mutual funds to insurance companies, any professional investors who manage more than that $100 million watermark are required to file a 13F. And with Baupost's assets under management weighing in at $29.4 billion according to HedgeStats.com, Klarman and company certainly fit that description.
Baupost's 13F for the second quarter of 2012 is hot off the presses, so it a good time to take a closer look at the firm's favorite stock investments. Without further ado, here's
a look at five stocks that Klarman bought in the second quarter