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Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Tempted
Managers
Promise
Numbers
Point
Make
Always

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We would do best in a market where everyone acted foolishly.
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There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do.
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A hyperactive stock market is the pickpocket of enterprise.
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A pack of lemmings looks like a group of rugged individualists compared with Wall Street when it gets a concept in its teeth.
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If I knew where I was going to want to live the next five or 10 years I would buy a home and I'd finance it with a 30-year mortgage... It's a terrific deal.
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We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
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If I subscribed to the efficient market theory I would still be delivering papers
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We also believe candour benefits us as managers. The CEO who misleads often in public eventually misleads himself in private.
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The key to success is emotional stability.
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I sent one e-mail in my life. I sent it to Jeff Raikes at Microsoft, and it ended up in court in Minneapolis, so I am one for one.
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Bad terminology is the enemy of good thinking.
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Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.
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It is madness to risk losing what you need in pursuing what you simply desire.
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Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that is not reportable by us under standard accounting principles than to purchase $1 of earnings that is reportable.
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... it's important to have the right monetary policy. It's important for, to have the right fiscal policy. But it's nowhere near as important as just the normal regenerative capacity of American capitalism.
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The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.
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The important thing is to keep playing, to play against weak opponents and to play for big stakes.
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