Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).

Whenever you find yourself on the side of the majority, it is time to pause and reflect.

Many majority owners in recent deals have tried to reduce their equity position and cash calls through minority position. There is a risk that in the sense that if things go poorly the minority owners can leverage or force out the majority owner.

Whenever you find that you are on the side of the majority, it is time to reform.

He who knows he is a fool is not the biggest fool; he who knows he is confused is not in the worst confusion. The man in the worst confusion will end his life without ever getting straightened out; the biggest fool will end his life without ever seeing the light. If three men are traveling along and one is confused, they will still get where they are going - because confusion is in the minority. But if two of them are confused, then they can walk until they are exhausted and never get anywhere - because confusion is in the majority.

It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds