“Why are the financial statements so difficult? There have been too many cooks in the accounting rule kitchen. So many different influencers, influencing at different times for differing reasons. The result is a mish-mash of electives, estimates, and gross inconsistencies in both rules and application of financial reporting.” – Joel Litman
“I do not think there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature.” – John D. Rockefeller (Standard Oil)
“As you get old, if you have earned a certain level of wisdom and insight into life, which the young are yet to earn, they look up to you. Then, you can somewhat be in the same space – you are on the first floor, leave them on the ground floor looking up to you.” – Sadhguru
“The proliferation of new, complex accounting standards, without a full rethinking of legacy standards, has contributed to a deterioration of earnings quality and increasing lack of financial statement comparability.” – Ralph Nach, 2001-2010 Author of The GAAP Guide (Wiley.)
“I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.” – Bruce Lee
“If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success.” – John D. Rockefeller
“Unless you try to do something beyond what you have already mastered, you will never grow.” – Ralph Waldo Emerson
“Markets are designed to allow individuals to look after their private needs and to pursue profit. It’s really a great invention and I wouldn’t under-estimate the value of that, but they’re not designed to take care of social needs.” – George Soros
“We try to find things that are misunderstood. And then if we think something is misunderstood then we figure out if it’s misvalued. And if we figure out that it’s misunderstood and misvalued, then we tend to invest.” – David Einhorn
“When you came into this world, you came without a single investment. So whatever happens in your life, anyway you are in profit.” – Sadhguru
“You have to decide ahead of time how much of a drawdown would imply that the system is not as good as you thought it was, and therefore shouldn’t be traded.” – Edward Thorp, Stock Market and Black Jack Expert from the book “Market Wizards” by Jack Schwager
“Design is not just what it looks like and feels like. Design is how it works.” – Steve Jobs
“Find a need and fill it.” – Henry Kaiser
“The rules for calculating earnings are nearly incomprehensible. But that’s not what’s really scary. What’s really scary is that they are inconsistently applied, from company to company and from year to year at the same company.” – Joel Litman
“CFOs would like standard setters to issue fewer rules, and to converge U.S. GAAP with IFRS to improve earnings quality.” – “Earnings Quality: Evidence from the Field Ilia Dichev, John Graham, Campbell R. Harvey, Shiva Rajgopal September 9, 2012”
“Plans are only good intentions unless they immediately degenerate into hard work.” – Peter Drucker
“Good advertising does not just circulate information. It penetrates the public mind with desires and belief.” – Leo Burnett
“While formulas such as the classic ‘net working capital’ test are necessary to support an investment analysis, value investing is not a paint-by-numbers exercise. Skepticism and judgment are always required.” – Seth Klarman (The Baupost Group)
“There are no such things as limits to growth, because there are no limits to the human capacity for intelligence, imagination, and wonder” – Ronald Reagan
“The investor of today does not profit from yesterday’s growth.” – Warren Buffett