Black Monday 1987 took its toll on a lot of investing professionals, and during the subsequent months, many tried to recoup the losses while also calming their clients.

But unlike many investors who seemed panicked following the stock market crash of 1987, Warren Buffett, chairman and CEO of Berkshire Hathaway Inc.  (BRK.A) - Get Report , was calm, cool and collected -- typical Warren, I say. 

In 1987, Buffett's Berkshire Hathaway had a gain of about 20%, or $464 million, according to Buffett's annual letter to shareholders in the following February. That was in keeping with the firm's average annual growth of 23% in the 20-plus prior years.

In his report, Buffett attributed the success of the firm not only to the companies Berkshire had invested in but also to the managers running them. "You have a right to question that second assertion," he joked. "After all, CEOs seldom tell their shareholders that they have assembled a bunch of turkeys to run things."

He also talked in-depth about his many portfolio companies at the time, which included Capital Cities/ABC Inc. (the predecessor to Disney's (DIS) - Get Report ESPN), GEICO Corp., still a holding today, and the Washington Post Co. -- the namesake of which is now owned by Amazon.com Inc. (AMZN) - Get Report founder Jeff Bezos. Others included World Book (yes, the encyclopedia), Nebraska Furniture Mart and the Buffalo News, the main newspaper of the Buffalo-Niagara region of New York.

But in addition to the mundane portfolio recaps and return numbers, Buffett provided shareholders (and us, in hindsight) a number of colorful comments including a bit on the market's "massive seizure" that was Black Monday.

Here's a look at some of the notable Buffett-isms from the 1987 Berkshire annual report:

Always looking out for the little guy:

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Don't let "Mr. Market" control you ... "Patsy":

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Buffett describes Black Monday as "massive seizure":

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Good managers make the Berkshire businesses better:

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Winston Churchill was a wise man, Mr. Buffett:

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Always looking for favorable financing:

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Berkshire criteria for potential acquisitions:

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Source: Berkshire Hathaway Annual Report 

The "Crash of '87 -- TheStreet Special Report" is a series of stories, videos, graphics and other multimedia elements that look at the stock market crash of 1987, also known as Black Monday. TheStreet examines the cause of the crash, reveals some of the hottest stories of the day, and reveals what could cause a similar crash in the future. How can we prevent another Black Monday? Read more about the Crash of '87.

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