When The Brothel Burns Down, Even The

Should You Find Yourself In A Chronically Leaking Boat, Energy Devoted To Changing Vessels Is Likely To Be More Productive Than Energy Devoted To Patching Leaks.

In The End, Alchemy, Whether It Is Metallurgical Or Financial, Fails. A Base Business Can Not Be Transformed Into A Golden Business By Tricks Of Accounting Or Capital Structure. The Man Claiming To Be A Financial Alchemist May Become Rich. But Gullible Investors Rather Than Business Achievements Will Usually Be The Source Of His Wealth.

During Inflation, Goodwill Is The Gift That Keeps On Giving.

I Asked Him What He Wanted To Do For His Career, And He Replied That He Wanted To Go Into A Particular Field, But Thought He Should Work For Mckinsey For A Few Years First To Add To His Resume. To Me That's Like Saving Sex For Your Old Age. It Makes No Sense.

A Great Investment Opportunity Occurs When A Marvelous Business Encounters A One-time Huge, But Solvable Problem.