Berkshire Hathaway’s annual meeting

http://money.cnn.com/2005/05/01/news/fortune500/buffett_talks/index.htm?cnn=yes summarizes Warren Buffett and Charles Munger’s address to shareholders.  My favorite line:



Some people seem to think there’s no trouble [with Ford and GM] just because it hasn’t happened yet. If you jump out the window at the 42nd floor and you’re still doing fine as you pass the 27th floor, that doesn’t mean you don’t have a serious problem.

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