“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. The preference, always, would be to buy a long-term franchise at a substantial discount from growing intrinsic value.” LongWould BeValuesThreeTermGrowingEssenceLong TermCategoriesStablePreferenceInflationShrinkingDiscountsIntrinsic Value Author:Michael Burry
“I didn't offer transparency. I provided one quarterly report in letter form. That was all you got. I basically demanded that if you're going to invest in my fund you need to accept my terms. The terms not being super highs, but just, I'm not going to cater to you.” IfsNeedsFormTermAcceptingOffersLettersReportsFundTransparency Author:Michael Burry
