Warren Buffett says

“At Berkshire, full reporting means giving you the information that we would wish you to give to us if our positions were reversed.”

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“We will make bold rather than timid investment decisions where we see a sufficient probability of gaining market leadership advantages.”

“It’s not possible for investors to consistently outperform the market. Therefore you’re best served investing in a diversified portfolio of low-cost index funds [or exchange-traded funds].”

“Why focus on cash flows? Because a share of stock is a share of a company’s future cash flows, and, as a result, cash flows more than any other single variable seem to do the best job of explaining a company’s stock price over the long term.”

“We both insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think. So Warren and I do more reading and thinking and less doing than most people in business.”