Never give up. Never give up. Never give up.”
More I still think, from an individual perspective, the best deal investment you can make is to buy a primary residence that you’re the owner-occupier of.
“The Citigroup trade was very complicated. People were afraid to invest. People that invested early lost a lot of money and they wouldn’t invest any more. The valuation was low. We were correct to assume the government recap plan was the right plan and that would be the last capital they needed. We thought that the valuation of Citigroup was well below what it would have traded at on a normalized earnings multiple, and that it was the most discounted of all the banks. We did the analysis on the banks with the most return potential and Citigroup came out on top.”
Many investors make the mistake of buying high and selling low while the exact opposite is the right strategy.
New York periodically goes through a real estate crisis. I didn’t subscribe to the school that real estate only goes up.
The strategic plan to transform Valeant smartly focuses on rebuilding the company’s core franchises in ophthalmology, dermatology, and gastroenterology while simultaneously using the proceeds from the sale of non-core assets and operating cash flow to de-lever the company.
I am fully supportive of the strategy and leadership team at Valeant.
The days of CEOs getting rich while shareholders lose has got to end. Management must be accountable. John Paulson Accountable, Getting It is the manager and the team that affect performance, not the size of the fund or firm
“[On the opportunity in 2007 to earn $15 billion across of of his funds.] Those types of investments don’t come around very often.”
The discrepancy between equity earnings yields and Treasury yields is at an all time high
In many situations today, you can make far more than the spread by holding onto the acquirer’s stock after the transaction is completed.
Harvard was very important to me and has been very important to so many people for so many years
If you rent, the rent goes up every year. But if you buy a 30-year mortgage, the cost is fixed.
I think buying a home is the best investment that any individual can make
An administration that supports growth supports everyone.
If you are looking for a hedge for potential inflation for the future and have a longer term view, then gold is still a good bet.
Don’t focus on weekly or monthly returns.
I grew up in a family of piano players. Both my sisters were serious players, and they both, as they became more accomplished, aspired to buy a Steinway and asked my dad to buy a Steinway.
“Many investors make the mistake of buying high and selling low while the exact opposite is the right strategy to outperform over the long term.”
When you have something that is perfect, that occupies a position and sector unrivalled by anyone else, that’s one thing we do not want to tamper with.
While we are disappointed in performance in 2016, we believe we have a path to a recovery.
There have been many very successful acquirers, where they’ve bought up companies, and they’ve grown their earnings very rapidly, and the stock has appreciated tremendously.
I got a piggy bank and the goal was to fill it up…
I am in awe of the brand, and there is nothing I would do or contemplate doing that would any way impact the unique pedestal that Steinway occupies in the industry, 160 years, uncompromising reputation for excellence, and it’s my goal to safeguard that reputation and continue that pursuit of perfection.