Investing is a business where you can look very silly for a long period of time before you are proven right.

You can learn investing by reading books.

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.

If I believe that I am right, I will take it to the end of the earth until I am proven right.

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.