"I find that companies are inclined to be at their most interesting when they are undergoing a little misfortune, and therefore I chose the fall of 1966 as the time to have a look at Xerox."

“In the law of torts there is the maxim: Every dog has one free bite.”

“...both company managements and stockholders might well consider a lesson King Lear learned -that when the role of dissenter is left to the Fool, there may be trouble ahead for everybody.”

“I found that business life is full of creative original minds -along with the usual number of second-guessers, of course.”

“The Internal Revenue Code of 1954, a document longer than "War and Peace", is phrased -inevitably, perhaps- in the sort of jargon that stuns the mind and disheartens the spirit.”

“Basel has several first-rate restaurants, and it may be that in the view of the central-bank delegates this advantage outweighs the travel inconvenience, for central banking -or at least European central banking- has a firmly established association with good living.”