For Seth Klarman's value-focused hedge fund Baupost the early 1990s was a tricky time. According to his letters to investors, between the end of 1990 and fiscal year end of 1996 (October 31), the hedge fund turned every $50,000 invested into $120,585 a compound annual return of 16.17%. Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham.