We believe the size is almost irrelevant to investment success. Our size has certainly not diminished our enthusiasm for investing in our funds, our ability to find or create opportunities, or our performance outlook.
We think the most important criteria for selecting an investment firm are the manager, team, and track record.
It is the manager and the team that affect performance, not the size of the fund or firm.
The days of CEOs getting rich while shareholders lose has got to end. Management must be accountable.
I am fully supportive of the strategy and leadership team at Valeant.
The strategic plan to transform Valeant smartly focuses on rebuilding the company's core franchises in ophthalmology, dermatology, and gastroenterology while simultaneously using the proceeds from the sale of non-core assets and operating cash flow to de-lever the company.
New York periodically goes through a real estate crisis. I didn't subscribe to the school that real estate only goes up.
When I purchased my home, it was very strict underwriting standards. I had to provide two pay stubs, two years' tax returns, three months of bank statements, all sorts of credit card information.
If you rent, the rent goes up every year. But if you buy a 30-year mortgage, the cost is fixed.
Well, the most important thing in investing is to know what you're investing in, and if you're confident in the outcome, it's important to stay true to your position.
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