A lot of the problems in the mortgage world, people said, were because our competitors were evil. But a lot of it was a lack of technology - bad processes and systems.

When we do an investment, we always ask, 'Can we affect the outcome? When buying a company, can we have an impact?' That's a different style of investing than a passive investor in the stock market. To me, that's how you're taking the risk out of it. You know what your capability is and how you can enhance value.

Keep your debt low, and ask, Can your operational expertise make an impact? Then you're taking away a lot of the risk.

Dan Gilbert Quotes