“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 think a lot of funds get their ideas from Wall Street. I just like to find my own ideas. I read a lot. A lot of news. I just follow my nose. A lot of times it's a dead end, but sometimes there's value there.” ThinkingIdeasEndsSometimesValuesMy OwnStreetsWallNewsNosesFundDead Ends Author:Michael Burry
“The late 90s almost forced me to identify myself as a value investor, because I thought what everybody else was doing was insane.” ValuesLateInsaneInvestors Author:Michael Burry
