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The best investments are the ones that make you slightly uncomfortable. Comfort means the price is too high.
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We buy assets. We don’t buy stories. If the asset is worth more than the price, we don’t need a narrative.
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People call us a poor man’s Berkshire. I’d rather be a rich man’s anything.
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Leucadia succeeds because we don’t have a strategy. We have a price. If it’s cheap enough, we’ll buy almost anything.