Klarman's Burger King bet trounced the market

Klarman runs a value-focused fund that buys steady, cash-rich businesses cheaply and sits in cash when nothing looks worth it. His biggest bet is Restaurant Brands, the owner of Burger King and Tim Hortons, wagering the fast-food giant keeps churning out reliable profits. His picks returned 37% over the past year, beating the S&P 500's roughly 21%.