Michael Lee-Chin Quotes & Sayings (Page 2)

“I didn't generate my success by being a prognosticator. I developed my reputation building our businesses by building great businesses and making them more efficient.”

“My wealth came from growing businesses. I had wealth, but not liquidity. Basically I transferred illiquid shares of AIC for liquid shares of Manulife. Now I'm the biggest individual shareholder of Manulife.”

“The mantra of the National Commercial Bank is 'building a better Jamaica.' If this bank is going to be everlastingly successful, it has to take on the ailments of this society.”

“You can't look at the intrinsic value of gold as you can a business. Gold doesn't give you cash flow, and, at the end of the day, cash flow is what is important. Gold doesn't give you dividends.”

“My first playpen was a cardboard box.”

“Gold is a commodity; over the long run, as we look back, it has not been a good investment. You can't look at the intrinsic value of gold as you can a business. Gold doesn't give you cash flow, and, at the end of the day, cash flow is what is important. Gold doesn't give you dividends.”

“The objective of the customer is not being met if the fund managers are diversifying their assets into hundreds of businesses. If they do this, they are typically performing close to the indexes. But that's not the way wealth is created.”