"The evidence seems clear that those business which actively serve their many constitutencies in creative, morally thoughtful ways also, over the long run, serve their shareholders best. Companies do, infact, do well by doing good."

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However, if one has been playing the buy-and-hold game with quality securities, one has been exposed to a substantial amount of market risk because the valuations placed on these securities have implied overly rosy scenarios prone to popular revision in times of more realistic expectation. This is one of those times, but it is my feeling that the revisions have not been severe enough, the expectations not yet realistic enough. Hence, the world's best companies largely remain overpriced in the marketplace.

— Michael Burry