Whitney Tilson

“One of the best places to look for value is what I call 'babies thrown out with the bathwater' - in other words, scour the most out-of-favour sectors for good companies whose stocks have been crushed due to overblown concerns about the industry that do not, in fact, have an impact on the company.”

“I am part of the 1 percent of the 1 percent. By that, I mean that I am fortunate to be a wealthy American, and I say, 'It's okay to raise my taxes.'”

“Most chief executives rise to that position by being good operating managers. Few have extensive experience or training with capital allocation. What CEO wants to return excess cash to shareholders when it could be used to expand his or her empire?”

“The mark of a wise person isn't never making mistakes - everyone makes plenty of them. Rather, it's the ability to quickly admit - and fix - them!”

“Dealing with uncertainty is always a key challenge for investors. But dealing with uncertainty doesn't mean avoiding it - on the contrary, it is often fuzziness about a company's future that creates the type of opportunity bargain-hunting investors cherish.”

“One can't be a successful investor without a healthy dose of confidence. To commit your own and others' hard-earned capital requires conviction, and conviction requires confidence. But as with fine brandy or coffee ice cream, too much of a good thing can be problematic.”

“It's critical to have a disciplined investing approach and stick with it.”

“Without doubt, timely and democratic access to financial and market information contributes to smoothly functioning financial markets.”

“I think most people agree with the idea of shared sacrifice, but for many, when push comes to shove, that principle goes out the window.”

“If I bring to light a company that's poisoning customers, defrauding investors, or something like that... there just aren't enough regulators in the world to keep up with all of the fraud and malfeasance that goes on out there, particularly in the little nooks and crannies of the market.”

“Because I'm a very public figure, everybody knows what my returns are.”

“It's difficult to fix a truly broken business, but when it happens, the returns can be extraordinary.”

“There is no sure-fire way to get rich quickly. In fact, the pursuit of that usually leads to ruin.”

“Humans are hard-wired to be irrational when it comes to financial decisions. We must understand that so we don't become the sucker at the poker table.”

“My advice to most people is don't short stocks. It's a very, very difficult business. And you can really get clobbered.”

“The consequences of overestimating a company and your ability to analyse it are greatly diminished when you're paying a lot less for it than your analysis shows it is worth.”

“The key thing when you short is to make sure you're not wrong on the fundamental intrinsic value.”

“Early in my career, we were just pure bottoms-up stock pickers.”

“In life, an abundance of confidence gives us higher motivation, persistence, and optimism and can allow us to accomplish things we otherwise might not have undertaken.”

“I have never believed that large-cap stocks are too well followed to be anything but efficiently priced.”