Under perfect competition, in the long run no company makes an economic profit.
As an investor-entrepreneur, I’ve always tried to be contrarian, to go against the crowd, to identify opportunities in places where people are not looking.
A true bubble is when something is overvalued and intensely believed.
Today's 'best practices' lead to dead ends; the best paths are new and untried.
It's a horribly mismanaged company-probably a lot of pot smoking going on there.
If you focus on near-term growth above all else, you miss the most important question you should be asking: will this business still be around a decade from now?