market folly

Market Folly's quote of the week this time around comes from Glenn Greenberg of Brave Warrior Capital (formerly of Chieftain Capital). His quotation addresses his approach to investing which he's practiced for over 25 years:

"We are looking for good businesses where the fortunes of those businesses don't turn on slight changes in GNP statistics, where there is substantial free cash generated and put into the hands of extremely capable managements which will not go out and spend that money foolishly by over-expanding plant capacity, or paying too much for an acquisition to get into somebody else's difficult business. We look for people who have a vision of building something, building their company into a great business."

~ Glenn Greenberg

For more words of wisdom from top hedge fund managers, scroll through all of our previous quotes of the week.