Phrase by 'Michael Burry'
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I think a lot of hedge funds get their trades from Wall Street and get their ideas from Wall Street. And I just like to find my own ideas. I'm reading a lot; I read a lot of news. I'm addicted to it. I basically - I follow my nose on news stories.
Author: Michael Burry - American BusinessmanIdeas , Think , My Own , Street
In early 2005, I really studied the prospectuses of these mortgage pools that were tranched out into different-rated slices rated by agencies like S&P and Moody's. They had names like Park Place and People's Choice. It was clear to me that many of the buyers of these repackaged subprime mortgages were doing little analysis.
Author: Michael Burry - American BusinessmanMe , People , Doing , Place
The major reform legislation, Dodd-Frank, was named after two guys bought and sold by special interests, and one of them should be shouldering a good amount of blame for the crisis.
Author: Michael Burry - American BusinessmanTwo , Good , Special , Blame
Government policies and regulations in the postcrisis era have aided the hollowing-out of middle America far more than anything the private sector has done. These changes even expanded the wealth gap by making asset owners richer at the expense of renters.
Author: Michael Burry - American BusinessmanAmerica , Done , Government , Wealth
The post-crisis perception, at least in the media, appears to be one of Americans being held down by Wall Street, by big companies in the private sector, and by the wealthy. Capitalism is on trial. I see it a little differently. If a lender offers me free money, I do not have to take it.
Author: Michael Burry - American BusinessmanMe , Money , Down , Street
Fresh, clean water cannot be taken for granted. And it is not - water is political, and litigious. Transporting water is impractical for both political and physical reasons, so buying up water rights did not make a lot of sense to me, unless I was pursuing a greater fool theory of investment - which was not my intention.
Author: Michael Burry - American BusinessmanMe , Political , Fool , Water
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, and the upside was many multiples of it.
Author: Michael Burry - American BusinessmanMe , Risk , Many , Problem
I try to buy shares of unpopular companies when they look like road kill and sell them when they've been polished up a bit.
Author: Michael Burry - American BusinessmanLook , Like , Try , Road
Subprime mortgages, typically defined as those issued to borrowers with low credit scores, make up roughly the riskiest one-third of all mortgages.
Author: Michael Burry - American BusinessmanUp , Make , Low , Credit
Americans have so much natural entrepreneurial drive. The caveat is that it is technology that should be a tool making lives better in the real world, and in line with the American spirit of getting better and better at something, whether it's curing cancer or creating a better taxi service.
Author: Michael Burry - American BusinessmanWorld , Drive , Service , Technology
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I consider myself an inventor first and an entrepreneur second. In real life, my hero is Thomas Edison. He was a great inventor, but also an outstanding entrepreneur who was able to sell his inventions to the masses. He didn't just develop the light bulb; he invented the entire electric grid and power distribution system. (Aaron Patzer)Affiliated links: In case you want to support this project, you can do it by using these links. There will be no cost to you and they may be a little help to the creativity of this project.
