HATE

“When times aren’t good I’m still here. You find bargains among the unpopular things, the things everybody hates. The key is you must have patience.” Peter Cundill

“I would say that one of the questions I’m always asking my broker salespeople is, “I don’t want to know what your analysts like. Tell me what your clients hate.What are the sectors that are most hated? What are the industries your clients don’t want to hear about?” It doesn’t even necessarily mean that’s the best value, but I want to know what the world hates. When it’s out of favour and really hated, that to me is a good sign, and it means it’s time to do the work and move forward.” Preston Athey

“The very best time to buy a business is when it’s near term future prospects are murky and the business is hated and unloved. In such circumstances, the odds are high than an investor can pick up assets at steep discounts to their underlying value.” Mohnish Pabrai

"Almost by definition we are running towards that which most people are running away from because how else are you going to get a very reasonable, cheap price on a good company unless the marketplace believes something is terribly wrong.” Bruce Berkowitz

"We try to look for places that other people are running from or people don't like. Zell used to always say, ‘I like to look for trouble.’ I think that's something we try to do, as well." John Phelan

“When people walk through all the reasons to hate something, we often don't disagree with them on the current facts, but may come to a different conclusion on the long-term investment prospects given what we have to pay. People at times don't put enough weight on valuation." David Green

“Part of the future is unknowable but there are some instances where you can take a calculated risk/reward bet. One thing I would say is that a common characteristic of many of the stocks that we buy is that everyone hates them. We do that a lot." Joel Greenblatt

“Bill Miller, famed manager of the Legg Mason Value Trust, is fond of saying that ‘most fund managers own what they like. We own what we hate to own.’ There is a strong element of this kind of thinking to the Marathon portfolios at the moment.” Nick Sleep 2003

“The safest and most potentially profitable thing is to buy something when no-one likes it. Given time, its popularity, and thus its price, can only go one way; up.” Howard Marks

“We buy that which is hated. When it is hated it’s usually cheap. No guarantee that it is cheap, but the more you hate something the better we like it”. Bruce Berkowitz

“I want fear. I want to buy things when people are afraid of it, not when they think it’s a gift being handed down to them.” Jeffery Gundlach

“We are highly opportunistic, and I will be buying what other people are selling, what is out of favour, what is loathed and despised, where there is financial distress, litigation- basically, where there is trouble. That is how we direct our search.” Seth Klarman

“Great investing requires an independent spirit, and the courage to acquire assets the crowd disdains. Disdain creates bargains.” Shelby Davis

“The balance of risk tends to be more in your favour when everybody is scared than when everybody is happy.” James Hunt

"We have gone through almost every area which was overlooked by the investment community, whenever these areas were unpopular. Elliott has taken this direction since the beginning." Paul Singer

"The proper response lies in contrarian behaviour: buy when they hate ‘em, and sell when they love ‘em." Howard Marks 

“It’s something I’ve learned. If you buy something that’s hated, chances are you’re going to make a lot of money down the road.” Jim Rogers

“Ordinarily what we are buying is hated and reasonable value.” Nick Sleep

“If it’s loved, it’s probably expensive, if it’s hated there’s a good chance it’s cheap. There is a saying, the best time to buy is when there is blood in the streets. To know that something that is good maybe very overpriced, and something that is bad maybe very cheap you have to know how to calculate value and expect change.” Ray Dalio