"Managers thinking about accounting issues should never forget one of Abraham Lincoln's favorite riddles: `How many legs does a dog have if you call his tail a leg?' The answer: `Four, because calling a tail a leg does not make it a leg'." Warren Buffett
"Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation." 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
"Two rules: 1. Preserve the principal; 2. When in doubt see Rule #1." Warren Buffett
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