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When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Look
Looks
Take
Annuals
Annual
Report
Reports
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Understand

More quotes by Warren Buffett

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Outstanding long-term results are produced primarily by avoiding dumb decisions, rather than by making brilliant ones.
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If I were the treasury secretary or head of the Fed, you know, I would try to scare the hell the out of the private sector and say, you better save this because you're going down with the ship.
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Buy stocks like you buy your groceries, not like you buy your perfume.
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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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It is to our advantage to have securities do nothing price-wise for months, or perhaps years, while we are buying them.
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Be fearful when there is greed and be greedy when there is fear.
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The most important investment you can make is in yourself. Very few people get anything like their potential horsepower translated into the actual horsepower of their output in life. Potential exceeds realization for many people...The best asset is your own self. You can become to an enormous degree the person you want to be.
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The greatest Enemies of the Equity investor are Expenses and Emotions.
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If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds, and those are investors all over the country. I wouldn't worry too much about that. Justice won't be perfect on it.
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The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.
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The difference between successful people and really successful people is that really successful people say no to almost everything.
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Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.
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I do not believe in inheriting your position in society based on which womb you come from... I think a rich person should leave his children enough so they can do anything, but not enough so they can do nothing.
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Larger sums may be an advantage at some cases and a disadvantage at others.
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Diversification is protection against ignorance. It makes little sense if you know what you are doing.
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Is management candid with the shareholders?
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If book knowledge made great investors, than the librarians would all be rich.
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Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.
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Cultivate curiosity and strive to become a little wiser every day.
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Your premium brand had better be delivering something special, or it's not going to get the business.
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