In essence, the stock market represents three separate categories of business. They are, adjusted for inflation, those with shrinking intrinsic value, those with approximately stable intrinsic value, and those with steadily growing intrinsic value. The preference, always, would be to buy a long-term franchise at a substantial discount from growing intrinsic value.
It is ludicrous to believe that asset bubbles can only be recognized in hindsight. - Michael Burry
It is ludicrous to believe that asset bubbles can only be recognized in hindsight.
- Michael Burry
If you are going to be a great investor, you have to fit the style to who you are. - Michael Burry
If you are going to be a great investor, you have to fit the style to who you are.
My natural state is an outsider. I've always felt outside the group, and I've always been analyzing the group. - Michael Burry
My natural state is an outsider. I've always felt outside the group, and I've always been analyzing the group.
The borrowers will always be willing to take a great deal for themselves. It’s up to the lenders to show restraint, and when they lose it, watch out. - Michael Burry
The borrowers will always be willing to take a great deal for themselves. It’s up to the lenders to show restraint, and when they lose it, watch out.
I didn't offer transparency. I provided one quarterly report in letter form. That was all you got. I basically demanded that if you're going to inves… - Michael Burry
I didn't offer transparency. I provided one quarterly report in letter form. That was all you got. I basically demanded that if you're going to inves…
I just really like to find my own ideas. - Michael Burry
I just really like to find my own ideas.
Sometimes markets err big time. Markets erred when they gave America Online the currency to buy Time Warner. They erred when they bet against George … - Michael Burry
Sometimes markets err big time. Markets erred when they gave America Online the currency to buy Time Warner. They erred when they bet against George …
I hated discussing ideas with investors, because then I become a Defender of the Idea, and that influences your thought process. - Michael Burry
I hated discussing ideas with investors, because then I become a Defender of the Idea, and that influences your thought process.
Read every line item until you get it. - Michael Burry
Read every line item until you get it.
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