Michael Burry Quotes

Sometimes your best investments are the ones you don't make.

It only takes a handful of big winners to make a lifetime of investing worthwhile.

But successful investors tend to be not too self-destructive. They tend to be patient, they tend not to follow the crowd, and they tend not to be too guilty about winning.

Too many people say to their brokers, I can't deal with this. Take my money. Do what you want. That's the worst attitude you can have.

I don't take investment advice from wealth managers. I have grown several businesses from scratch and amassed many millions from my publishing empire - why would I take advice from someone who has never experienced that?

It's really not about the money. It's just about educating yourself.

We don't manage money for anyone else. We bear responsibility only for our own risks.

I was 12 years fittin' to be a billionaire; I was 15 years old as a millionaire. I've been rich since I was 14. My son has been a millionaire since he was 12, so that's just the life. We've been playing with money since young.

Many businesses fail because the owner wasn't willing to invest and wasn't educated on the difference between spending money frivolously and investing money into the business for growth, and the risks and rewards of that cash infusion.

Great investments may look crazy but really may not be.

I certainly would have regretted not getting into wrestling. It's been very lucrative for me and I've been fortunate to get into it and make money and not do anything stupid where I invested in something that collapsed.

It's one of the most important things at the end of the day, being able to say no to an investment.

I'm a big advocate of a work-for-pay setup rather than an allowance that isn't attached to chores - it's a great way to impart the value of money to your children.

When it comes to money, the best investments were probably the ones I did not make.

Mutual fund managers are trapped in this rather deadly vicious circle: the more successful they are, the more money flows into their mutual fund. Then, it is more difficult for them to beat the market averages or even to match their own past performance.

The key to making money in angel investing is saying no. You meet with 100 companies and say no to 99 of them.

I didn't end up going bankrupt... I made some great investments and I held on to my money, which also enables me to have the freedom to do what I want now. But it's not about finances. No matter what, it's about keeping it real.

Whether a tops-down or bottoms-up investor in bonds, stocks, or private equity, the standard analysis tends to judge an investor or his firm on the basis of how the bullish or bearish aspects of the cycle were managed.

The things that I've learned is, try to make all the mistakes with your own money and on a small level so that when you are responsible for a partner's money or assets, you've learned, and you don't make bigger mistakes.

I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

With a regular venture fund, you raise, let's say, a billion dollars, and then over the next three or four years, you've got to invest that money; otherwise, the people who invested with you will say, 'What are you doing? You're just collecting fees on our money.'

I might make an investment and lose some money, but that's something I can recover from.

Often, investors will discover a manager after he's had a terrific run, usually when he lands on a magazine cover somewhere. Invariably, funds swell up with new investor money just before they revert to their long-term averages.

There are great municipal investments out there, but on a blanket basis you have to be really careful about knowing what cash flows are supporting your investments.

When you get world-class investment, you get world-class results.