“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
“My positioning with my investors was always, I need three to five years.” NeedsYearsThreeFiveFive YearsInvestors Author:Michael Burry
