“Many thought leaders in the accounting profession concede that inherent inconsistencies in current accounting standards are distorting as-reported financial statement analysis.” – Ralph Nach
“If you are just seeking realization, just wait. But if you are seeking to become a tool, if you are seeking to become a means and a process for many other people, it needs a different level of sadhana.” – Sadhguru
“Think S.O.B. – Source Of Business; where will your next sale and dollar of profit come from?” – Sergio Zyman
“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
“The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed.” – Henry Ford
“However, in the modern corporate set-up neither the par value of each share nor the total dollar value of the capital stock may be in the slightest degree informing.” – Ben Graham
“Having an aim is the key to achieving your best.” – Henry Kaiser
“No tree has branches so foolish as to fight among themselves” – Tao Te Ching
“Real integrity is doing the right thing, knowing that nobody’s going to know whether you did it or not.” – Oprah Winfrey
“High expectations are the key to everything.” – Sam Walton
“Wide diversification is only required when investors do not understand what they are doing.” – Warren Buffett
“While it might seem that anyone can be a value investor, the essential characteristics of this type of investor-patience, discipline, and risk aversion-may well be genetically determined.” – Seth Klarman
“The real problem with the rules for earnings is not that they are complicated (though they are), the real problem is that they are inconsistent. FedEx has massive off-balance sheet assets. UPS does not. Both are following the rules. Now, how do you rely on those financials when the rules aren’t being followed the same way?” – Joel Litman
“Find a need and fill it.” – Henry Kaiser
“There is surely nothing quite so useless as doing with great efficiency what should not be done at all.” – Peter Drucker
“The more you say how intelligent you are, the less intelligent you will be.” – Joel Litman
“We differ from many value investors in being willing to analyze stocks that look expensive to see if they really are. Most, in fact, are, but some are not. To the extent we get that right, we will benefit shareholders and clients.” – Bill Miller
“Return Driven Strategy provides a clear and concise way of looking at the key issues that drive profitable businesses.” – Samuel C. Scott III
“When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.” – Warren Buffett
“Receivables require most careful scrutiny in the case of companies selling goods on a long term payment basis.” – Ben Graham
