You have to understand accounting and you have to understand the nuances of accounting. It's the language of business and it's an imperfect language, but unless you are willing to put in the effort to learn accounting - how to read and interpret financial statements - you really shouldn't select stocks yourself

Life is like a snowball. The important thing is finding wet snow and a really long hill.

To be successful, you should concentrate on the world of companies, not arcane accounting mathematics.

Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.

After 25 years of buying and supervising a great variety of businesses, Charlie [Munger] and I have not learned how to solve difficult business problems. What we have learned is to avoid them. To the extent we have been successful, it is because we have concentrated on identifying one-foot hurdles that we could step over rather than because we acquired any ability to clear seven-footers.

Market prices for stocks fluctuate at great amplitudes around intrinsic value but, over the long term, intrinsic value is virtually always reflected at some point in market price.

Buy into a company because you want to own it, not because you want the stock to go up.