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999 Warren Buffett Quotes - Learn His Secrets of Investing During & After Crisis

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One Up On Wall Street SUMMARY Conclusion Chapter 20 – 50,000 Frenchmen Can Be Wrong

The market, like individual stocks, can move in the opposite direction of the fundamentals over the short term Be optimistic about America and investing in general Market declines are great opportunities to buy stocks in companies that you like You can never predict the market It takes years, not months to produce big results You can make serious money by compounding a series of 20-30 percent gains in Stalwarts Stock prices often move in opposite direction but the long term, the direct and sustainability of profits will prevail Buying a company just because its cheap is a losing strategy Selling an outstanding fast grower because its stock slights overpriced is a losing technique You don’t lose anything by not owning a successful stock Stock doesn’t know that you own it Don’t be attached to a winner Don’t stop monitoring the story If you don’t think you can beat the market then buy a mutual fund Keep an open mind to new ideas Read One Up On Wall Street by Peter Lynch Chapter 19 full su...
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The Essays of Warren Buffett SUMMARY Chapter 7 –Accounting Shenanigans

What needs to be reported is data. (1)Approximately how much is this company worth?
(2) What is the likelihood that it can meet its future obligations? and 
(3) How good a job are its managers doing, given the hand they have been dealt? The business world is simply too complex for a single set of rules to effectively describe economic reality for all enterprises. Over the years, Charlie and I have observed many accounting-based frauds of staggering size. It has been far safer to steal large sums with a pen than small sums with a gun.

Charlie and I have never sold a security because of the effect a sale would have on the net income we were soon to report. We both have a deep disgust for “game playing” with numbers, a practice that was rampant throughout corporate America in the 1990s and still persists, though it occurs less frequently and less blatantly than it used to. 

Operating earnings, despite having some shortcomings, are in general a reasonable guide as to how our businesses are doing. Ignore our net income figure, however. Regulations require that we report it to you. But if you find reporters focusing on it, that will speak more to their performance than ours. Both realized and unrealized gains and losses are fully reflected in the calculation of our book value. Pay attention to the changes in that metric and to the course of our operating earnings, and you will be on the right track.

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Hey everyone, I'm Michael. I don't read books, I research them. This channel is all about best business books and I will be summarizing the books that I am researching chapter by chapter. Do Subscribe and Follow MYSWEETLUCK.

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