The gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on them. However, the predictability coupled with a short holding period produces quite decent average annual rates of return after allowance for the occasional substantial loss.

We like to buy businesses, but we don't like to sell them.

Well, it may be all right in practice, but it will never work in theory

Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers.

Truly conservative actions arise from intelligent hypotheses, correct facts and sound reasoning.

I get to do what I like to do every single day of the year.

I'll take the deal, whatever you want to do.