I've seen a lot more go to zero than infinity..

In China, remember, the the banks are arms of state policy. They loan because the local party official or regional party official tells them we need ….

Chinais a world class if not the world class property bubble, primarily high-rise buildings, offices and condos..

I call it the Rule of Three. If you read a company's financial statements three times, and you still can't figure out how they make their money, that….

So you know, everyone points out Greece's default record, but the history of a lot of sovereign nations is not a good one when it comes to lending th….

Dubai was a property bubble. Plain and simple. Go to Dubai and see what happened. It was... what I call it the 'Edifice complex' - it's just, we can ….

Derivatives in and of themselves are not evil. There's nothing evil about how they're traded, how they're accounted for, and how they're financed, li….

The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. [...] Everybody seems to think it is a free ….

It's very difficult in the technology space when you have been leapfrogged to prosper again..

Increasingly, the real estate developers can't get bank loans for their project financing in China. They're now going into the Hong Kong market to ra….

The interesting thing about the China story, getting back to the macro and micro, and as dire as I think the macro story is - due to bad credit and c….

Healthcare is growing now at about 10 per cent per annum in the U.S. top line, versus 3 per cent for the economy. As someone with a sharp pencil and ….

And so it can be very much in the interest of bank A to sell-short bank B shares, or buy CDSes on bank B, because they have exposure to bank B. It's ….

The U.S. healthcare system is probably the most interesting large group of companies that are heading for major problems that we've seen in a long, l….

If you're a short-seller, that's a cacophony of negative reinforcement. You're basically told that you're wrong in every way imaginable every day. It….

What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office b….

What people don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out - they just….

I used to think that good short-sellers could be trained like long-focused value investors because it should be the same skill set; you’re tearing in….

The Macau casinos have a wonderful business, it's taking in money from Chinese businessmen elsewhere who send it through junky companies to casinos t….

Our concerns about what we saw in Australia: an economy clearly tied to China has hitched its wagon to the tail of the tiger. In terms of the general….

Bubbles are best identified by credit excesses, not valuation excesses. And there's no bigger credit excess than in China..