Michael Burry Quotes

Since we have emphasized that analysis will lead to a positive conclusion only in the exceptional case, it follows that many securities must be examined before one is found that has real possibilities for the analyst. By what practical means does he proceed to make his discoveries? Mainly by hard and systematic work.

I grade my stocks. I'm what they call a quant, one of the geeks of the stock market.

The few times that Soros has ever criticized me was when I was really right on a market and didn't maximize the opportunity.

We don't prognosticate macroeconomic factors, we're looking at our companies from a bottom-up perspective on their long-run prospects of returning.

Growth and value investing are joined at the hip.

I found an approach to investing that made enormous sense to me: rigorously analyzing a company's fundamentals, understanding exactly how it makes money, developing a view on the business's future prospects, and deciding if it's a good business.

We monitor close to 50 companies globally that can be potential investment opportunities. I'd like to see DST as a significant global investment company in the Internet arena.

To beat the market you'll have to invest serious bucks to dig up information no one else has yet.

When buying shares, ask yourself, would you buy the whole company?

There are two ways to approach the market. You can guess which direction prices will go in next, or you can figure out what businesses and their securities are really worth.

Early in my career, we were just pure bottoms-up stock pickers.

Private equity is a science project for many, many years, and when you have a science project, it leaves the human beings as a secondary fact.

I have a long history of looking at things from an investor's perspective by training and background.

All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.

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.

Entire populations of market strategists, fund managers, and economists are employed to try and intuit for clients which securities to bet on for the best possible return each year - or quarter.

The consequences of overestimating a company and your ability to analyse it are greatly diminished when you're paying a lot less for it than your analysis shows it is worth.

Assessing management quality is clearly one of the most important aspects of an investment decision.

We call ourselves 'opportunistic value investors.'

I did not write any of the letters that were ever published as investment commentary.

So much of venture capital is pattern recognition.

Most firms do two investments a year. They may talk to between 50 and 100 and do a couple, whereas we're talking to thousands and doing several hundred.

Good investors have to choose how to allocate their mind share with the precious capital they have.

Sell a stock only when you have found a new stock that is a 50% better bargain than the one that you hold.

If you can't find any companies that you think are attractive, put your money in the bank until you discover some.