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— Dashiell Hammett"When a man's partner is killed he's supposed to do something about it. It doesn't make any difference what you thought of him. He was your partner and you're supposed to do something about it. Then it happens we were in the detective business. Well, when one of your organization gets killed it's bad business to let the killer get away with it. It's bad all around-bad for that one organization, bad for every detective everywhere. Sam Spade"
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Buying a share of a good business is better than buying a share of a bad business. One way to do this is to purchase a business that can invest its own money at high rates of return rather than purchasing a business that can only invest at lower ones. In other words, businesses that earn a high return on capital are better than businesses that earn a low return on capital.
— Joel Osteen
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In the LBO field there is a buried "covariance" with marketable equities, toward disaster in generally bad business conditions, and competition is now extremely intense.
— Charlie Munger
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