“Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.”

—  Warren Buffett

1988 Chairman's Letter http://www.berkshirehathaway.com/letters/1988.html
Letters to Shareholders (1957 - 2012)

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Warren Buffett 146
American business magnate, investor, and philanthropist 1930

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