21 Jan 2021 Baupost’s Seth Klarman compares investors to ‘frogs in boiling water’ ( Portfolio )

"With so much stimulus being deployed, trying to figure out if the economy is in recession is like trying to assess if you had a fever after you just took a large dose of aspirin."

Using Tesla as an example, Mr Klarman said shares in the "barely profitable" electric carmaker had soared "seemingly beyond all reason".