Having great clients is the key to investment success.
In investing it is never wrong to change your mind. It is only wrong to change your mind and do nothing about it.
We don't deal in absolutes. We deal in probabilities.
Don't short many stocks. Instead they hedge for tail risk with CDS and options. They are happy to incur illiquidity
Hold cash when opportunities are not presenting themselves.
Value investing is at its core the marriage of a contrarian streak and a calculator.