Bubbles are best identified by credit excesses, not valuation excesses. And there's no bigger credit excess than in China.

I've learned there's a big difference between a long-focused value investor and a good short-seller. That difference is psychological and I think it falls into the realm of behavioral finance.

I've seen a lot more go to zero than infinity.

People who lose money always need someone to blame.

I call it the Rule of Three. If you read a company's financial statements three times, and you still can't figure out how they make their money, that's usually for a reason.

So you know, everyone points out Greece's default record, but the history of a lot of sovereign nations is not a good one when it comes to lending them money.

It's very difficult in the technology space when you have been leapfrogged to prosper again.

Chinais a world class if not the world class property bubble, primarily high-rise buildings, offices and condos.

Healthcare is growing now at about 10 per cent per annum in the U.S. top line, versus 3 per cent for the economy. As someone with a sharp pencil and an eye for this kind of thing, this can't last.

The U.S. healthcare system is probably the most interesting large group of companies that are heading for major problems that we've seen in a long, long time.

When you lack self-esteem it’s easy to keep attracting the wrong people into your life.

To achieve greatness, feel grateful for what you have.

Witness each moment in astounded jubilation. Take every holy breath in gratitude. Rejoice in life!

There are people out there who hate me and who say I'm arrogant, vain, and whatever. That's all part of my success. I am made to be the best.

Globalization really is a concrete, fundamental fact in everybody's lives, and you really see that come to life in soccer stadiums.

Johann Wolfgang von Goethe

Excellence nourishes the soul.

I am really proud of the development of the people on my team as they grow in purpose; they like what they see in the mirror.

If you truly expect something to be difficult, it will be.

I come from a good family. I come from a faith-based family.