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Seth Klarman Reckons With a ‘Major Sea-Change’

The Baupost CEO foresees a future in which capital could lose its grip over labor.

Baupost CEO Seth Klarman is no doubt an ardent capitalist, but the Covid-10 pandemic has led him to see capitalism’s failings all around us—and he thinks change is afoot.“Sometimes, right before our eyes, a major sea-change occurs,” the billionaire hedge fund manager wrote investors in a lengthy second-quarter letter that

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