Warren Buffett says

“ABCs of business decay, which are arrogance, bureaucracy and complacency.”

—Warren Buffett

More from Warren Buffett

“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”

—Warren Buffett

“If you wait till you know everything it's too late”

—Warren Buffett

“as happens in Wall Street all too often, what the wise do in the beginning, fools do in the end.”

—Warren Buffett

“The best investment you can make is in yourself.”

—Warren Buffett

“Our favorite holding period is forever. We are just the opposite of those who hurry to sell and book profits when companies perform well but who tenaciously hang on to businesses that disappoint. Peter Lynch aptly likens such behavior to cutting the flowers and watering the weeds.”

—Warren Buffett

“A horse that can count to ten is a remarkable horse—not a remarkable mathematician.”

—Warren Buffett

“In the long run managements stressing accounting appearance over economic substance usually achieve little of either.”

—Warren Buffett

“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”

—Warren Buffett

“Regardless of the impact upon immediately reportable earnings, we would rather buy 10% of Wonderful Business T at X per share than 100% of T at 2x per share. Most corporate managers prefer just the reverse.”

—Warren Buffett

“Mrs. B belongs in the Guinness Book of World Records on many counts. Signing a non-compete at 99 merely adds one more.”

—Warren Buffett