Quote

In the long run managements stressing accounting appearance over economic substance usually achieve little of either.

Warren Buffett

Change background

T
T
T

Change font

TAGS & TOPICS

Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Economic
Accounting
Business
Substance
Running
Appearance
Littles
Stress
Little
Management
Long
Usually
Achieve
Managements
Either
Stressing

More quotes by Warren Buffett

Image
If I subscribed to the efficient market theory I would still be delivering papers
Warren Buffett
Image
I spend twelve hours a week - a little over 10% of my waking hours - playing the game. Now I am trying to figure out how to get by on less sleep in order to fit in a few more hands.
Warren Buffett
Image
I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down.
Warren Buffett
Image
We are trading away a little bit of our country all the time for this access consumption that we have over what we've produced. That is not good. I think it's terrible over time. But our country's productive grows enough so we actually can do that, and we'll still be better off. We just don't be as well off as if we hadn't done it.
Warren Buffett
Image
It's a nightmare to administer some of this sort of thing, but I want to tell the shareholders of Berkshire, to the percent we own marketable securities or things for which there are market, even if those markets - I want to tell them what it's all about.
Warren Buffett
Image
Asset-heavy businesses generally earn low rates of return - rates that often barely provide enough capital to fund the inflationary needs of the existing business, with nothing left over for real growth, for distribution to owners, or for acquisition of new businesses
Warren Buffett
Image
[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
Warren Buffett
Image
I certainly do believe anyone engaged in the management of money should have a standard of measurement, and that both he and the party whose money is managed should have a clear understanding why it is the appropriate standard, what time period should be utilized, etc.
Warren Buffett
Image
The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.
Warren Buffett
Image
In the great majority of cases we simply do not know enough about the industry or company to come to sensible judgments-in that situation we pass.
Warren Buffett
Image
Charlie [Munger] and I are not big fans of resumes. Instead, we focus on brains, passion and integrity.
Warren Buffett
Image
I have no idea on timing. It’s easier to tell what will happen than when it will happen. I would say that what is going on in terms of trade policy is going to have very important consequences.
Warren Buffett
Image
It's just that I landed up in a terrific capitalist system. One that pays people who allocate capital extraordinarily well. Intrinsically, I'm not worth as much as somebody who invents something that could improves people's life, or health or whatever.
Warren Buffett
Image
All day you wait for the pitch you like then when the fielders are asleep, you step up and hit it.
Warren Buffett
Image
I think that actually people in my situation should be paying more tax.
Warren Buffett
Image
I am not worried about the country. I'm just worried about anything that gums up the potential of the country. And right now, it's pretty gummed up.
Warren Buffett
Image
Most investors, both institutional and individual, will find that the best way to own common stocks (shares') is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after fees and expenses) of the great majority of investment professionals.
Warren Buffett
Image
We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
Warren Buffett
Image
Forecasts usually tell us more of the forecaster than of the forecast
Warren Buffett
Image
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
Warren Buffett