Experience is making mistakes and learning from them.
If I believe that I am right, I will take it to the end of the earth until I am proven right.
I am always prepared to do the right thing regardless of what other people think.
I'm not emotional about investments. Investing is something where you have to be purely rational and not let emotion affect your decision making - just the facts.
Investing is a business where you can look very silly for a long period of time before you are proven right.
I was a little bit of a cocky kid.
I love what I do. I don't do it for the money. I work on behalf of investors that I like and want to do well for. I'm a competitive person.
I'm an extremely, extremely persistent person. Extremely. And when I believe I am right, and it is important, I will go to the end of the earth.
I think a very good system in a world with a lot of passive investors is one in which there are at least a few entrepreneurial investors, prepared to say what they think, prepared to propose a change in management, change in strategy, change in cost structure, capital structure.
If you think of the typical Herbalife distributor and their level of sophistication, to this day I still don't understand the marketing plan - true story.
I think good private equity investors create a lot more economic value than they destroy.
The President is the CEO of this business that we call America.
Herbalife: the customers are fictitious, the business opportunity is a scam, the university degree is a fraud.
I think the hedge-fund industry has taken a reputational turn for the worse, this dog-eat-dog stuff. I'm not just talking about Herbalife or J. C. Penney, but in other situations where the media really focuses on who's long and who's short. I don't think it's a good thing for the industry.
If you look at the great frauds of all time, Enron had that phantom trading floor. What Herbalife has is it has phantom or fictitious customers.
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