Seth Klarman is a billionaire value investor and hedge fund manager. His Boston-based Baupost Group has $27 billion under management, and has realized a remarkable 20% compounded return on investment since its inception in 1982.

In the Baupost Group's Q2 investor letter, Klarman discusses the changes wrought by COVID-19 which he believes will be long lasting, and includes a section called "Real Estate Becomes More Challenged as an Asset Class with Deteriorating Fundamentals for Retail, Hotel, and Possibly Office Properties".

READ FULL ARTICLE HERE