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Michael Burry Quotes

“Lost dollars are simply harder to replace than gained dollars are to lose”

Michael Burry

“I try to buy shares of unpopular companies when they look like road kill and sell them when they’ve been polished up a bit”

Michael Burry

“What you want to watch are the lenders, not the borrowers. 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

“I seek individual investments that will allow me to target total portfolio returns of at least 20% annually after fees and expenses on an annual basis over a period of years, not months”

Michael Burry

“My natural state is an outsider, and no matter what group I’m in or where I am, I’ve always felt like I’m outside the group, and I’ve always been analyzing the group

Michael Burry

“Common hedging techniques include shorting stocks, buying put options, writing call options, and various types of leverage and paired transactions. While I do reserve the right to use these tools if and when appropriate, my firm opinion is that the best hedge is buying an appropriately safe and cheap stock

Michael Burry

” ‘Ick investing’ means taking a special analytical interest in stocks that inspire a first reaction of ‘ick.’ I tend to become interested in stocks that by their very names or circumstances inspire unwillingness – and an ‘ick’ accompanied by a wrinkle of the nose on the part of most investors to delve any further”

Michael Burry

” The late 90s almost forced me to identify myself as a value investor, because I thought what everybody else was doing was insane.”

Michael Burry

” I started trading stocks, options and futures while I was at UCLA, using my earnings from working summers at the old IBM plant on Cottle Road. I never lost interest in how companies work. It’s fundamental to who I am”

Michael Burry

” If a lender offers me free money, I do not have to take it”

Michael Burry

” I will always choose the dollar bill carrying a wildly fluctuating discount rather than the dollar bill selling for a quite stable premium.”

Michael Burry

” If you are going to be a great investor, you have to fit the style to who you are.”

Michael Burry

” My positioning with my investors was always, I need three to five years.”

Michael Burry

” Regardless of what the future holds, intelligent investment in common stocks offer a solid route for a reasonable return on investment going forward.”

Michael Burry

” I don’t believe anything unless I understand it inside out. And even if I understand something, it is not uncommon that I disagree with accepted view.”

Michael Burry

” It is ludicrous to believe that asset bubbles can only be recognized in hindsight.”

Michael Burry

“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”

Michael Burry

“I think a lot of hedge funds get their trades from Wall Street and get their ideas from Wall Street. And I just like to find my own ideas. I’m reading a lot; I read a lot of news. I’m addicted to it. I basically – I follow my nose on news stories.”

Michael Burry

“Fresh, clean water cannot be taken for granted. And it is not – water is political, and litigious. Transporting water is impractical for both political and physical reasons, so buying up water rights did not make a lot of sense to me, unless I was pursuing a greater fool theory of investment – which was not my intention.”

Michael Burry
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