Try to pick a fund manager who has a well-defined strategy, has been through these things before, and go invest and stay with him.

The price earning multiple must be less than ten or the inverse of the long term corporate bond rate, whichever is the less.

I’m lucky to have the kind of life where the differentiation between work and play is absolutely zilch. I have no idea whether I’m working or whether I’m playing.

I try to keep in mind Oscar Wilde's comment that "saints always have a past and sinners always have a future," so no investment should be ruled out simply on the basis of past history. We focus on liquidation analysis and liquidation analysis alone.

Try to pick a fund manager who has a well-defined strategy, has been through these things before, and go invest and stay with him.

To put money into anything, anywhere, provided that the downside is measurable and acceptable and the chances of a good profit appear to be better than 50%. I will not take gambles, but it is part of my job description to be ready to take very carefully calculated risks.

What differentiates us from other money managers with a similar style is that we’re comfortable with new lows.