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We're not smarter than everyone else. We just worked harder on this one trade.
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The best opportunities arise when the market gets a fact wrong.
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I looked at the data and thought — this is going to end badly.
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Risk management is not about avoiding risk. It's about understanding it.
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The larger the divergence between price and value, the more compelling the opportunity.
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We looked for situations where the downside was limited and the upside was substantial.