‘Highly geared companies are particularly exposed if business conditions change for the worse’
‘Never invest in a company without understanding its finances. The biggest losses in stocks come from companies with poor balance sheets’
‘Even in such a time of madness as the late twenties, a great many men on Wall Street remained quite sane. But they also remained very quiet. The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil. Perhaps this is inherent. In a community where the primary concern is making money, one of the necessary rules is to live and let live. To speak out against madness may be to ruin those who succumb to it. So the wise ...
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