Lose money for the firm, and I will be understanding. Lose a shred of reputation for the firm, and I will be ruthless.
Context
Buffett issued this warning when he took over as interim chairman of Salomon Brothers following the government securities trading scandal, testifying before Congress on the firm's reform. He repeated the sentiment verbatim in biennial memos to all Berkshire Hathaway subsidiary managers for over 25 years.