One of the risks for anybody in the lending business is that being conservative can harm your competitiveness. — Michael Burry 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 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 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 Copy Share Image
It is ludicrous to believe that asset bubbles can only be recognized in hindsight. — 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 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 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
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 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
At one point, I recognized that Warren Buffett, though he had every advantage in learning from Ben Graham, did not copy Ben… — 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 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 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 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
In essence, the stock market represents three separate categories of business. They are, adjusted for inflation, those with shrinking intrinsic value, those… — Michael Burry 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
Sometimes markets err big time. Markets erred when they gave America Online the currency to buy Time Warner. They erred when they… — 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 Copy Share Image
In early 2005, I really studied the prospectuses of these mortgage pools that were tranched out into different-rated slices rated by agencies… — Michael Burry Copy Share Image
I seek individual investments that will allow me to target total portfolio returns of at least 20% annually after fees and expenses… — Michael Burry 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 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 Copy Share Image
It is a tenet of my investment style that, on the subject of common stock investment, maximizing the upside means first and… — Michael Burry Copy Share Image
In June 2005, mortgage rates were at 40-year lows, and risk premiums on mortgage securities were at all-time lows. Once the banks… — Michael Burry Copy Share Image
I started trading stocks, options and futures while I was at UCLA, using my earnings from working summers at the old IBM plant on… — 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 Graham but,… — Michael Burry Copy Share Image
In June 2005, mortgage rates were at 40-year lows, and risk premiums on mortgage securities were at all-time lows. Once the banks migrated to… — Michael Burry Copy Share Image
It is ludicrous to believe that asset bubbles can only be recognized in hindsight. — Michael Burry Copy Share Image
Fresh, clean water cannot be taken for granted. And it is not - water is political, and litigious. Transporting water is impractical for both… — Michael Burry 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 into this… — Michael Burry Copy Share Image
One of the risks for anybody in the lending business is that being conservative can harm your competitiveness. — 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 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 insane. — 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 for themselves.… — Michael Burry 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 risk because… — Michael Burry Copy Share Image
