If you look at the great frauds of all time, Enron had that phantom trading floor. What Herbalife has is it has phantom or fictitious customers.

I'm not emotional about investments. Investing is something where you have to be purely rational and not let emotion affect your decision making - just the facts.

As a result of overdiversification, their (active managers) returns get watered down. Diversification covers up ignorance. Active managers haven't done enough research into any of their companies. If managers have 200 positions, do you think they know what's going on at any one of those companies at this moment?

In order to be successful, you have to make sure that being rejected doesn’t bother you at all.

I am always prepared to do the right thing regardless of what other people think.

Herbalife: the customers are fictitious, the business opportunity is a scam, the university degree is a fraud.

It is a certainty that Herbalife is a pyramid scheme. We believe it's harming a population of low-income, principally Hispanic people in the U.S. to benefit a handful of super wealthy people at the top of the pyramid.

If I believe that I am right, I will take it to the end of the earth until I am proven right.

I was a little bit of a cocky kid.