Sooner or later, the market will do what it has to do to prove the majority wrong.

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.

You find bargains among the unpopular things, the things that everybody hates. The key is that you must have patience.

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.

We do liquidation analysis and liquidation analysis only.

Protect the downside. Worry about the margin of safety.

There is almost always a major blip for whatever reason and we have learnt to expect it and not to panic.