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I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Read
Competitors
Reports
Main
Material
Materials
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Annuals
Looking
Annual

More quotes by Warren Buffett

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House prices just soared beyond - beyond reason in many places and they got financed in silly ways, and people lied about loans, all kinds of accesses entered into it. But that is what - that is the single biggest cause of why we're here.
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You need a lot of curiosity for a long, long time.
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... but the important thing is that when you do find one where you really do know what you are doing, you must buy in quantity.... Charlie and I have made a dozen or so very big decisions relative to net worth, although not as big as they should have been. And in each of those, we've known that we were almost certain to be right going in.
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I don't think you can have a better secretary of the Treasury than Hank Paulson.
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Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.
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Never ask a barber if you need a haircut.
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Market price, while used exclusively to value our investments in minority positions, is not a relevant factor when applied to our controlling interests.
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Money is not everything. Make sure you earn a lot before speaking such nonsense.
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What's hot today isn't likely to be hot tomorrow. The stock market reverts to fundamental returns over the long run. Don't follow the herd.
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Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay.
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Time is your friend, impulse is your enemy. Take advantage of compound interest and don't be captivated by the siren song of the market.
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We're perfectly willing to trade away a big payoff for a certain payoff.
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When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.
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What could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?
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[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.
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Derivatives are financial weapons of mass destruction.
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I mean, you may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing.
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There are 309 million people out there that are trying to improve their lot in life. And we've got a system that allows them to do it.
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Risk comes from not knowing what you're doing.
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When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact.
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