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.

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

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.

If our lives are pleasing to Allah, and our goals are things which He approves then we can expect His Divine Assistance in accomplishing them, which includes Barakah in our time.

What we call miracles is just what's supposed to happen. We either go with it or stand in its way.

There can be no rainbow without a cloud and a storm.

I have to be alone very often. I'd be quite happy if I spent from Saturday night until Monday morning alone in my apartment. That's how I refuel.

We are now moving towards complete collectivism or socialism, a system under which everybody is enslaved to everybody.

Glorious the song, when God's the theme.

Why ask a question whose answer would demand ten more questions?

Self Pity is the most miserable party to go to, because, in case you haven't noticed, you're the only one who is there.

In order to succeed in business a man does not need a degree from a school of business administration. These schools train the subalterns for routine jobs. They certainly do not train entrepreneurs.

I may not have the stereotypical head for business, but I have feet that were made for heels.