Experience is making mistakes and learning from them.

If you look at the great frauds of all time, Enron had that phantom trading floor. What Herbalife has is it has phantom or fictitious customers.

I think a very good system in a world with a lot of passive investors is one in which there are at least a few entrepreneurial investors, prepared to say what they think, prepared to propose a change in management, change in strategy, change in cost structure, capital structure.

I was a little bit of a cocky kid.

Herbalife: the customers are fictitious, the business opportunity is a scam, the university degree is a fraud.

Experience is making mistakes and learning from them.

I am always prepared to do the right thing regardless of what other people think.