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The reaction of weak management to weak operations is often weak accounting.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Operations
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Management
Weak
Often
Business
Billionaire
Accounting
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Chains of habit are too light to be felt until they are too heavy to be broken.
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Time is the friend of the wonderful company, the enemy of the mediocre.
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Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised.
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Possessing a powerful worldwide brand is essential for sustained success.
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We've got more productive capacity now than we ever have.
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I happen to have a talent for allocating capital. But my ability to use that talent is completely dependent on the society I was born into. If I'd been born into a tribe of hunters, this talent of mine would be pretty worthless. I can't run very fast. I'm not particularly strong. I'd probably end up as some wild animal's dinner.
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We will only do with your money what we would do with our own.
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It is easier to rationalize than it is to be rational.
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Over the years, a number of very smart people have learned the hard way that a long string of impressive numbers multiplied by a single zero always equals zero.
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You don't need to have extraordinary effort to achieve extraordinary results. You just need to do the ordinary, everyday things exceptionally well.
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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.
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The most important investment you can make is in yourself... nobody can tax it or take it away from you.
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I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.
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Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: How many legs does a dog have, if you call a tail a leg? The answer: Four, because calling a tail a leg doesn't make it a leg.
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I never try to predict the market.
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Whatever you like to do, make it a hobby and whatever the world likes to do, make it a business.
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The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.
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We do not have, nor have had, and never will have an opinion about where the stock market, interest rates, or business activity will be a year from now.
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The only way to be loved is to be loveable, which really irritates me.
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