Berkshire Hathaway Annual Letter -- Best Quotes

[stock777]

PS, this a a good time to remind all you jackasses that were against govt action during the early days of the crisis to

 

[stock777]

Even Warry figured this one out, did you?

"Sleeping around, to continue our metaphor, can actually be useful for large derivatives dealers because
it assures them government aid if trouble hits. In other words, only companies having problems that can infect
the entire neighborhood – I won’t mention names – are certain to become a concern of the state (an outcome, I’m
sad to say, that is proper). From this irritating reality comes The First Law of Corporate Survival for ambitious
CEOs who pile on leverage and run large and unfathomable derivatives books: Modest incompetence simply
won’t do; it’s mindboggling screw-ups that are required."

 

[stock777]

guess I shut ya'll up good.