I am always prepared to do the right thing regardless of what other people think.
From Bill Ackman
Experience is making mistakes and learning from them.
Herbalife: the customers are fictitious, the business opportunity is a scam, the university degree is a fraud.
Investing is a business where you can look very silly for a long period of time before you are proven right.
I think a very good system in a world with a lot of passive investors is one in which there are at least a few entrepreneurial investors, prepared to say what they think, prepared to propose a change in management, change in strategy, change in cost structure, capital structure.
If I believe that I am right, I will take it to the end of the earth until I am proven right.
If you think of the typical Herbalife distributor and their level of sophistication, to this day I still don't understand the marketing plan - true story.
I'm an extremely, extremely persistent person. Extremely. And when I believe I am right, and it is important, I will go to the end of the earth.
I'm not emotional about investments. Investing is something where you have to be purely rational and not let emotion affect your decision making - just the facts.
It is a certainty that Herbalife is a pyramid scheme. We believe it's harming a population of low-income, principally Hispanic people in the U.S. to benefit a handful of super wealthy people at the top of the pyramid.
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