Great Warren Buffet quote from his 2008 annual shareholders letter:
"You only learn who has been swimming naked when the tide goes out — and what we are witnessing at some of our largest financial institutions is an ugly sight."
Link to New York Times article about the 2008 letter.
*Update* Warren Buffett's 2008 letter to shareholders available here- Direct PDF 464 KB
Letters going back to 1977 also available here
