The key is to limit your downside and have unlimited upside.
Investors
John Paulson
Born in 1955 in New York, John Paulson rose from obscurity managing a modest merger-arbitrage hedge fund to global fame by deploying credit default swaps to short subprime mortgage securities ahead of the 2007 crisis, personally earning roughly four billion dollars in a single year. The trade, chronicled in Gregory Zuckerman's book, is widely regarded as the greatest in financial history.
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John Paulson's Other Quotes
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The most important thing is being attentive to cycles.
-- Howard Marks
You can't predict. You can prepare.
-- Howard Marks
Concentration is the key. If you believe in something, you should bet big on it.
-- Bruce Berkowitz
The bulls might be right that the company's accounting is fine, but they're asking us to take it on faith. We prefer to verify.
-- David Einhorn
You have to understand the business before you understand the stock.
-- Mario Gabelli
To buy when others are despondently selling and to sell when others are avidly buying requires the greatest fortitude and pays the greatest ultimate rewards.
-- John Templeton