Expense Vigilance in Good Times

"Whenever things go too well, I become very suspicious. This is one of those periods. Keep your guard up! Now is the time to be careful. Now is the time the dopes get knocked off. Remember the rules and remember our culture. When business is good, we become careful with our capital and try to cut expenses."

"Now that you are all believers, I would like to see some real effort and results in the expense-cutting area. The rest of our industry cuts expenses when business is bad. We try to cut expenses all the time, but particularly when business is great. Would we have thought of this brilliant"

"Please do not think for a minute that this represents a change in our basic philosophy. In fact, since business is booming we will once again emphasize cost control. Remember that great poker players leave nothing on the table when they hold good hands."

"Remember what Haimchinkel Malintz Anaynikal said—“The time to stop stupidity and be tough on costs is when times are good. Any schlemiel* and most schlimazels* try to cut costs when times are bad.”"