When the brothel burns down, even the pretty girls have to run out.

Problems in a company are like cockroaches in the kitchen. You will never find just one

Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.

The advice "you never go broke taking a profit" is foolish.

A pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street (a community in which quality control is not prized) will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest.

Consciously paying more for a stock than its calculated value - in the hope that it can soon be sold for a still-higher price - should be labelled speculation

Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.