I think a lot of funds get their ideas from Wall Street. I just like to find my own ideas. I read a lot. A lot of news. I just follow my nose. A lot of times it's a dead end, but sometimes there's value there.

I just really like to find my own ideas.

If you are going to be a great investor, you have to fit the style to who you are.

Everything I do in investment is just very different.

It is ludicrous to believe that asset bubbles can only be recognized in hindsight.

Early on, people invested in me because of my letters and then, somehow, after they invested, they stopped reading them.

I didn't offer transparency. I provided one quarterly report in letter form. That was all you got. I basically demanded that if you're going to invest in my fund you need to accept my terms. The terms not being super highs, but just, I'm not going to cater to you.