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

As a result of overdiversification, their (active managers) returns get watered down. Diversification covers up ignorance. Active managers haven't done enough research into any of their companies. If managers have 200 positions, do you think they know what's going on at any one of those companies at this moment?

If you think of the typical Herbalife distributor and their level of sophistication, to this day I still don't understand the marketing plan - true story.

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

You can learn investing by reading books.

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.

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