blah blah讲了很多
但你们最感兴趣的，可能是他觉得中国股票超级低估。要知道他可是
铁杆原教旨价值投资者
比巴菲特还要价投。
简单来说下他的看法：
1. 克拉曼的Baupost几十年了都没有持有过任何中国股票，因为他觉得这个地方太热闹太招人偏爱，不会有什么好的价值投资机会。
2. 不过最近开始他们看一些机会，也持有了一个跌了90%市值的中国公司股票（估计是新东方）。
3. 中国持仓占很小的一部分。
4. 他个人还是对新兴市场比较谨慎，认为他们没什么超额能力，Baupost偏爱美国与欧洲市场。
以下是原文：
“we talk to our clients not that long ago about a few Chinese stocks we were finding. we had never owned anything in China for decades it was in favor everybody was lining up to go there l knew that they have a pretty authoritarian system of governance and didn't want to be on the wrong side ofthat we stay away from most markets like that as a pretty regular rule. yet the stocks were starting to Discount such a significant degree of China risk that we felt like for the first time ever that you're actually getting well paid. and we found a company whose stock was beaten down 90 percent and thought that was attractive and so far so good but it's not a large percentage of our Capital but it was very Intrepid idea by one of our analysts I don't have a view about emergent markets about the frontier markets we're humble enough and cautious enough to know that if you don't live in a country if you don't have people that are active in that country you're at a real disadvantage and so I have no idea what the premium should be for buying equities in Africa or equities in Asia but when I find a stock trading at 25 cents on the dollar I know that those…..”
