Ariel Investments

“And we feel very strongly that, ah, the core of what we do is play time arbitrage.”

“Our small cap product is about 400 stocks, but we only own 40. And if we found a new name, we wanted to buy it would force a name out of the portfolio. We can't, we won't go over 40.”

“The stock is trading for less than all the helicopters if you sold them. Interesting thing about helicopters, they don't depreciate the way other vehicles do, because every five years you have to replace the engine and the rotor. You basically have a new helic…”

“I believe people undervalue time and overvalue money. And because of that, they make a lot of decisions that are actually not rooted in the right set of circumstances.”

“We want to buy companies when they're selling at a 40% discount to what they're worth. That, to us, creates a margin of safety for us. And or 13 times or less next year's earnings, which is why a lot of your companies don't fall into our purview unless somethi…”

“We actually use an organization called BIA Associates, Business Intelligence Advisors, ex-CIA agents, who help us in, in questioning.”

“So when we read resumes, we nix job hoppers. If you've had too many jobs, we throw out your resume. Because we say you're not going to be the person who comes and stays here.”

“He started the Arial Fund, which is now a 2.5 billion dollar publicly traded mutual fund, and that, that was to get 500,000 dollars together to have a track record.”

“That was making a decision based upon money, and he probably lost people who would have accelerated the growth had he hired them.”