My positioning with my investors was always, I need three to five years. — Michael Burry Copy Share Image
Lost dollars are simply harder to replace than gained dollars are to lose. — Michael Burry Dollars Copy Share Image
One of the risks for anybody in the lending business is that being conservative can harm your competitiveness. — Michael Burry Business Copy Share Image
The borrowers will always be willing to take a great deal for themselves. It’s up to the lenders to show restraint, and… — Michael Burry Copy Share Image
Early on, people invested in me because of my letters and then, somehow, after they invested, they stopped reading them. — Michael Burry Copy Share Image
I try to buy shares of unpopular companies when they look like road kill and sell them when they've been polished up… — Michael Burry Business Copy Share Image
Subprime mortgages, typically defined as those issued to borrowers with low credit scores, make up roughly the riskiest one-third of all mortgages. — Michael Burry Credit Copy Share Image
I hated discussing ideas with investors, because then I become a Defender of the Idea, and that influences your thought process. — Michael Burry Defenders Copy Share Image
My natural state is an outsider. I've always felt outside the group, and I've always been analyzing the group. — Michael Burry Copy Share Image
If you are going to be a great investor, you have to fit the style to who you are. — Michael Burry Customer Copy Share Image
I think a lot of hedge funds get their trades from Wall Street and get their ideas from Wall Street. And I… — Michael Burry Customer Copy Share Image
Government policies and regulations in the postcrisis era have aided the hollowing-out of middle America far more than anything the private sector… — Michael Burry America Copy Share Image
I don't believe anything unless I understand it inside out. And even if I understand something, it is not uncommon that I… — Michael Burry Copy Share Image
I think a lot of funds get their ideas from Wall Street. I just like to find my own ideas. I read… — Michael Burry Customer Copy Share Image
My natural state is an outsider, and no matter what group I'm in or where I am, I've always felt like I'm… — Michael Burry Copy Share Image
What you want to watch are the lenders, not the borrowers. The borrowers will always be willing to take a great deal… — Michael Burry Copy Share Image
I didn't offer transparency. I provided one quarterly report in letter form. That was all you got. I basically demanded that if… — Michael Burry Copy Share Image
The post-crisis perception, at least in the media, appears to be one of Americans being held down by Wall Street, by big… — Michael Burry Capitalism Copy Share Image
However, if one has been playing the buy-and-hold game with quality securities, one has been exposed to a substantial amount of market… — Michael Burry Copy Share Image
At one point, I recognized that Warren Buffett, though he had every advantage in learning from Ben Graham, did not copy Ben… — Michael Burry Customer Copy Share Image
When I stand on my special-issue "Intelligent Investor" ladder and peer out over the frenzied crowd, I see very few others doing… — Michael Burry Copy Share Image
Common hedging techniques include shorting stocks, buying put options, writing call options, and various types of leverage and paired transactions. While I… — Michael Burry Copy Share Image
'Ick investing' means taking a special analytical interest in stocks that inspire a first reaction of 'ick.' I tend to become interested… — Michael Burry Customer Copy Share Image
I had begun to worry about the housing market back in 2003, when lenders first resurrected interest-only mortgages, loosening their credit standards… — Michael Burry Credit Copy Share Image
In essence, the stock market represents three separate categories of business. They are, adjusted for inflation, those with shrinking intrinsic value, those… — Michael Burry Business Copy Share Image
Throughout the universe of public and private funds, managers are measured quarterly against one index or another, defined by statistics, and corralled… — Michael Burry Asset allocation Copy Share Image
The idea that growth will remedy our debts is so addictive for politicians, but the citizens end up paying the price. — Michael Burry Debts Copy Share Image
I will always choose the dollar bill carrying a wildly fluctuating discount rather than the dollar bill selling for a quite stable… — Michael Burry Copy Share Image
The late 90s almost forced me to identify myself as a value investor, because I thought what everybody else was doing was… — Michael Burry Copy Share Image
I believe that agriculture land - productive agricultural land with water on site - will be valuable in the future. — Michael Burry Agriculture Copy Share Image
Regardless of what the future holds, intelligent investment in common stocks offer a solid route for a reasonable return on investment going… — Michael Burry Customer Copy Share Image
It is ludicrous to believe that asset bubbles can only be recognized in hindsight. — Michael Burry Copy Share Image
Americans have so much natural entrepreneurial drive. The caveat is that it is technology that should be a tool making lives better… — Michael Burry Copy Share Image
Back in 2005 and 2006, I argued as forcefully as I could, in letters to clients of my investment firm, 'Scion Capital',… — Michael Burry Copy Share Image
I have always believed that a single talented analyst, working very hard, can cover an amazing amount of investment landscape, and this… — Michael Burry Copy Share Image
In essence, the stock market represents three separate categories of business.They are, adjusted for inflation, those with shrinking intrinsic value, those with… — Michael Burry Customer Copy Share Image
Credit-default swaps remedied the problem of open-ended risk for me. If I bought a credit-default swap, my downside was defined and certain,… — Michael Burry Customer Copy Share Image
