RE:RE:RE:My head hurtsI've always admired value investors who built long-term track records of outperformance.
I've also learned to respect investors who achieved similar records in areas of distress, especially when they help price discovery during hardship due to extrinsic forces.
I have mixed feelings about some investors such as Mr. Icahn, Mr. Singer and others as they can, at times, contribute themselves to a distress situation in order to benefit. There are even situations when the actions of the raiders constitute the main reason for the distress and the aim of the vultures then is to benefit from the chaos that they themselves created. At least, with such people, you know what to expect and can react accordingly.
There is, however, another kind of investor. The types that drape themselves with a mantle of virtue, who sing the praise of fiduciary duties and who play victim when when they meet people such as Mr. Perelman, only simply to behave the same way, or worse, when they have the opportunity.
You can play foul and fool others but, in the end, you end up fooling yourself.
I don't like what I see.