On the dot-com bubble and its crash, for instance, he has this to say: "Some of the companies were real, but the stocks weren't." That directness and candor -- as well as the long-term success of his fund -- have made him a sought-after commentator on the speaker's circuit and in the financial and lay press.
CNBC's "Squawk Box" has him as a frequent guest, and he has appeared on "Wall Street Week With Louis Rukeyser," a popular PBS program. He is also a regular on an investment program on two Fort Lauderdale radio stations twice a month.
He enjoys writing about investing, as well. His quarterly newsletter, the Muhlenkamp Memorandum, is distributed to 35,000 households worldwide.
Here are a few more insights we uncovered:
* On valuing companies: "We value companies that same way companies value companies."
* On avoiding the dot-com hype: "All we had was the stomach to stay out of it."
* On evaluating stocks: "All we do is screen Value Line data and then go talk to the company."
* On history as a predictor of trends: "History doesn't repeat, but it rhymes pretty well."
* On economics: "In economics, what everyone worries about doesn't happen because we prepare for it and make sure it doesn't happen."
* On why he owns a motorcycle, a sports car and a motor home: "I like machines."
* On why he doesn't see himself as a contrarian: "The trouble with being a contrarian is you've got to depend on the other guy being wrong. I'm certainly independent, and a lot of times it looks contrarian, but a contrarian ... has go to bet that the other guy is always wrong, and nobody's always wrong."
* On the odd predicament of his volunteer fire department: "Most of the problems we have in this country are problems of success. As a fire company, our problem is we don't have enough fires. That's success."