Tips by Warren Buffett

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There are managers who actively use GAAP to deceive and defraud. They know that many investors and creditors accept GAAP results as gospel. So these...
You have to have the knowledge to enable you to make a very general estimate about the value of the underlying business. But you do not cut it close....
Betting against America has been the stupidest thing since 1776.
Buy a business, don't rent stocks.
Tags: warnings
The banking business is no favorite of ours. When assets are twenty times equity -- a common ratio in this industry -- mistakes that involve only a...
I've seen companies valued at $10 billion that couldn't borrow $100 million. This sort of thing has happened before, but this is the most extreme...
I'd be a bum on the street with a tin cup if the markets were efficient. (Warren Buffett on the efficient market hypothesis)
One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity', sing the praises of...
Whenever I read about some company undertaking a cost cutting program, I know it's not a company that really knows what costs are about. The really...
In my 2002 letter to shareholders I referred to derivatives as "weapons of mass destruction." Derivatives are really just a way to create a product...
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