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" We never invent new reasons to continue with a position when the original reasons are no longer available. "

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" I worked in investment banking for two years. I was in a program where they kind of just owned you. And you - I didn't realize that I've signed up for that, which was one of the problems. I didn't know anybody who'd done this. "

" In my business investing, you are buying a stock, and someone else is selling the stock. Right there, that's like a debate. Is the stock going up, or is it going to go down? "

" The enthusiasm for Tesla and other bubble-basket stocks is reminiscent of the March 2000 dot-com bubble. As was the case then, the bulls rejected conventional valuation methods for a handful of stocks that seemingly could only go up. While we don't know exactly when the bubble will pop, it eventually will. "

" On my best days, I fancy myself a combination of Dad's persistence/patience and Mom's toughness/skepticism. "

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" Microsoft could help Facebook with one of the biggest challenges, namely monetizing its traffic without reducing the user's experience. It's obvious that Microsoft needs traffic and Facebook needs search. "

" With poker, you have a resolution of the hand within a couple of minutes. Whereas, even if the thought process in investing is very much the same, you're looking at an outcome that could be 2, 3, 4, 5 years from when you make the original decision. And the mindset related to that is very different. "

" For one thing, Greenlight only hires nice people. By that, I don't mean that we avoid hiring jerks. I mean we actively look to hire people who are nice. "

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" During my freshman year at Cornell, I joined my dorm's intramural football team. At the first practice, upper classmen pointed out I was tall, so I should try playing QB. Well half an hour later, it was abundantly clear that I should not be the QB. "

" Investing in a poker game and investing in stocks, at least the way I do it, it's a very similar skillset. "

" We believe in constructing the portfolio so that we put our biggest amount of money in our highest-conviction idea, and then we view the other ideas relative to that. "

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