Iconic hedge fund manager Seth Klarman says investors are missing huge risks

An iconic hedge fund manager says investors are misperceiving risks in the markets — at a time when markets are hitting historic highs.
Baupost Group's Seth Klarman laid out his concerns in April in a client letter, a copy of which was reviewed by Business Insider.
Risk, Klarman wrote, is the most important consideration when investing, and investors are being too trusting.
To make his point, Klarman contrasted today with the start of the financial crisis.
"When share prices are low, as th