There's a difference between the quality of a business and the quality of a management. If it's a strong enough business, it should be able to...

All you need is to look over the earnings forecasts publicly made a year ago to see how much care you need to give to those being made now for next...

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...

Stocks are simple. All you do is buy shares in a great business for less than the business is intrinsically worth, with managers of highest integrity...

Character today is best judged in the proxy statement: what do they pay themselves and how? Is their financial self-interest truly aligned with mine...

I'm at a stage in my career where I'd say human behaviour is the most important determinant of a business's long-term success. I don't care how smart...

Given the availability of so much information on the Internet, I'm not so interested in meeting management today. You can get seduced too easily. I'm...

When managers want to get across the facts of a business to you, it can be done within the rules of accounting. Unfortunately, when they want to play...

It's fascinating how differently the same business can perform with two different leaders. We look first for intellectual honesty. It drives me crazy...

How management communicates about mistakes is very important. About 40 per cent of the stocks we buy end up underperforming the market and I'd be...