This guy has delivered 20% net compound returns for 25 years.
“The pendulum may be starting to turn-as recent developments in the mortgage and hedge fund markets suggest. Because the scale of today’s leverage so greatly exceeds historical levels, it seems possible that we are only in the early stages of a credit contraction.”
His speech at MIT in January below covers a lot of ground on value investing versus leverage, efficient markets, credit crunch, VC/PE.
Sri Spot 