“It's just one more wave of wild speculation that's going to end the same way the others have. To try to conclude that the bear market is over is the height of lunacy.”
“How much people are willing to suspend disbelief is what's eye-opening here, ... It's a window on the big picture: This idea of speculating one's way to prosperity is still with us. People come right back, like a moth to a flame.”
“When they started out I said, 'No way can a coffee shop owner keep its margins up there.' But it's not true. The management team's done a fantastic job of running that company.”
“The rationale that people have used for being bullish is extremely predictable, ... They can't say stocks are cheap. They can't say business is great. So they have to go on about stuff like relative strength and stocks making an upside-down.”
“Shorting is very time intensive and it's very hard to do at home, ... That's not because you have to be smart, but because you have to have a lot of time devoted to it.”
