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 Read Quote
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 Read Quote
Government policies and regulations in the postcrisis era have aided the hollowing-out of middle America far more than anything the private sector has done. These changes even expanded the wealth gap by making asset owners richer at the expense of renters. Michael Burry Read Quote
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 Read Quote
At one point, I recognized that Warren Buffett, though he had every advantage in learning from Ben Graham, did not copy Ben Graham but, rather, set out on his own path and ran money his way, by his own rules… I also immediately internalized the idea that no school could teach someone how to be a great investor. Michael Burry Read Quote
I believe that agriculture land – productive agricultural land with water on site – will be valuable in the future. Michael Burry Read Quote
If you are going to be a great investor, you have to fit the style to who you are. Michael Burry Read Quote
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 Read Quote
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 Read Quote
