A Quote by Michael Burry

However, if one has been playing the buy-and-hold game with quality securities, one has been exposed to a substantial amount of market risk because the valuations placed on these securities have implied overly rosy scenarios prone to popular revision in times of more realistic expectation. This is one of those times, but it is my feeling that the revisions have not been severe enough, the expectations not yet realistic enough. Hence, the world's best companies largely remain overpriced in the marketplace.
We don't understand the equity market well, and so we deploy funds in fixed-income securities, and like any other securities, investment in those securities also need to follow the mark-to-market accounting principle.
My career in academic research has not been involved with active management of securities. I've tried to understand risk-and-return relationships; also the pricing of derivative securities.
If I were to make a list, I would include the interceptions, the sacks, the really painful losses. Those times when I've been down, when I've been kicked around, I hold on to those. In a way those are the best times I've ever had, because that's when I've found out who I am. And what I want to be.
What's been most helpful to me is realizing that those times when all the heads in the room turn and look at me as if I was crazy, reinforce my own leadership capability. Because I've been in a number of those settings where I've been right. And I've been right often enough that now when it happens I don't automatically think, "Oh, my, what's wrong with me?" or "Ohhh, I must not be ready for this role," or "They know so much more than I do."
I've been a loner all the time throughout my life... I haven't been the best father... Many times... my children have accused me of not giving them enough attention. And, frankly, I never have been good at handling that.
The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell.
The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
These [Arab] youth who have been inspired by universal values are idealistic enough to imagine a magnificent future and, at the same time, realistic enough to balance this kind of imagination and the process leading to it - not using violence, not trying to create chaos.
You can almost convince yourself that you've accomplished things just by thinking about them. The alternative is to be more realistic. You don't necessarily regard the dreaming process as bad or an obstacle, but it's not realistic enough.
I'm old enough now that I've been around and I've seen a lot more things than I had seen when I started this program 27 years. I have seen presidents in action. I have been to the White House a number of times. I have been to fundraisers. I have been seen what happens at fundraisers. I've seen how elected officials treat fundraisers and donors and, believe me, the world revolves around them.
Concerning iTunes, the deals have mainly been done with the record companies. But the artists, with some exceptions, haven't been very well-represented. This is partly because the record companies have largely been copyright owners.
I've been around the world seven times, been stabbed three times, been down in an airplane, and once dated the Bearded Lady.
To reduce risk it is necessary to avoid a portfolio whose securities are all highly correlated with each other. One hundred securities whose returns rise and fall in near unison afford little protection than the uncertain return of a single security.
I think I've been fortunate to be at the top of the game and in the media for years, and a lot of times, people want to be your friend when you're on the top. You know, there have been times when I've been injured and I never got a phone call. So that's the way it is.
I've been offered jobs by companies that supported apartheid many times in the 25 years of my modeling career, but I have never taken one of them. I have to refuse that money, because I'm not going to work against my people. They've suffered enough.
I’ve been offered jobs by companies that supported apartheid many times in the 25 years of my modeling career, but I have never taken one of them. I have to refuse that money, because I’m not going to work against my people. They’ve suffered enough.
This site uses cookies to ensure you get the best experience. More info...
Got it!