--- title: "7 Annuals Quotes By Warren Buffett" description: "7 Annuals quotes by Warren Buffett. Plus more from Warren Buffett and more Annuals sayings from other authors." image: "https://sms4smile.com/quotes/i/efa/warren-buffett-183_annual-reports_i-read-annual-reports-of-the-company-i-m_266032.png" --- > [I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is…](https://sms4smile.com/quotes/warren-buffett/i-read-annual-reports-of-the-company-i-m-looking-at-and-i-read-the/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/efa/warren-buffett-183_annual-reports_i-read-annual-reports-of-the-company-i-m_266032.png) > [I've already written a section in the annual report for next year explaining why I think in one case that the figures…](https://sms4smile.com/quotes/warren-buffett/i-ve-already-written-a-section-in-the-annual-report-for-next-year/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/9b1/warren-buffett-183_agree_i-ve-already-written-a-section-in-the-an_430245.jpg) > [The gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on…](https://sms4smile.com/quotes/warren-buffett/the-gross-profits-in-many-workouts-appear-quite-small-it-s-a-little/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/e53/warren-buffett-183_allowance_the-gross-profits-in-many-workouts-appea_484951.jpg) > [When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.](https://sms4smile.com/quotes/warren-buffett/when-asked-how-he-became-so-successful-in-investing-buffett-answered/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/971/warren-buffett-183_annual-reports_when-asked-how-he-became-so-successful-i_1060404.png) > [When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.](https://sms4smile.com/quotes/warren-buffett/when-i-take-a-look-at-a-company-s-annual-report-if-i-don-t-understand/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/198/warren-buffett-183_annual-reports_when-i-take-a-look-at-a-company-s-annual_1552602.png) > [Other guys read Playboy. I read annual reports.](https://sms4smile.com/quotes/warren-buffett/other-guys-read-playboy-i-read-annual-reports/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/587/warren-buffett-183_annual-reports_other-guys-read-playboy-i-read-annual-re_2284413.png) > [Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.](https://sms4smile.com/quotes/warren-buffett/read-ben-graham-and-phil-fisher-read-annual-reports-but-don-t-do/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Image](https://sms4smile.com/quotes/i/eee/warren-buffett-183_annual-reports_read-ben-graham-and-phil-fisher-read-ann_2536286.png) ## More by Warren Buffett > [To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual…](https://sms4smile.com/quotes/warren-buffett/to-invest-successfully-over-a-lifetime-does-not-require-a/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“Be fearful when others are greedy, and be greedy when others are fearful.”](https://sms4smile.com/quotes/warren-buffett/be-fearful-when-others-are-greedy-and-be-greedy-when-others-are/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.](https://sms4smile.com/quotes/warren-buffett/making-money-isn-t-the-backbone-of-our-guiding-purpose-it-is-the-by/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are…](https://sms4smile.com/quotes/warren-buffett/we-set-no-volume-goals-in-our-insurance-business-generally-and/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the…](https://sms4smile.com/quotes/warren-buffett/everybody-s-got-a-different-circle-of-competence-the-important-thing/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [It is better to point out your own mistakes than have somebody else do it.](https://sms4smile.com/quotes/warren-buffett/it-is-better-to-point-out-your-own-mistakes-than-have-somebody-else/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I've read about all the sales today. If you're an auto dealer, you're feeling it. If you're a furniture retailer like we are, you're…](https://sms4smile.com/quotes/warren-buffett/i-ve-read-about-all-the-sales-today-if-you-re-an-auto-dealer-you-re/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to…](https://sms4smile.com/quotes/warren-buffett/i-was-lucky-enough-to-be-born-in-a-time-and-place-where-society/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to…](https://sms4smile.com/quotes/warren-buffett/the-most-common-cause-of-low-prices-is-pessimism-some-times-pervasive/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The reaction of weak management to weak operations is often weak accounting.](https://sms4smile.com/quotes/warren-buffett/the-reaction-of-weak-management-to-weak-operations-is-often-weak/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.](https://sms4smile.com/quotes/warren-buffett/what-you-really-want-to-do-in-investments-is-figure-out-what-s/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I don't measure my life by the money I've made. Other people might, but certainly don't.](https://sms4smile.com/quotes/warren-buffett/i-don-t-measure-my-life-by-the-money-i-ve-made-other-people-might-but/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've…](https://sms4smile.com/quotes/warren-buffett/i-mean-the-truth-is-i-ve-never-had-it-so-good-in-terms-of-taxes-i-am/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the…](https://sms4smile.com/quotes/warren-buffett/the-most-important-quality-for-an-investor-is-temperament-not/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Investors, of course, can, by their own behavior make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate…](https://sms4smile.com/quotes/warren-buffett/investors-of-course-can-by-their-own-behavior-make-stock-ownership/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/annuals/warren-buffett/#itemlist", "name": "7 Annuals Quotes By Warren Buffett", "numberOfItems": 7, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/i-read-annual-reports-of-the-company-i-m-looking-at-and-i-read-the/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/efa/warren-buffett-183_annual-reports_i-read-annual-reports-of-the-company-i-m_266032.png", "contentUrl": "https://sms4smile.com/quotes/i/efa/warren-buffett-183_annual-reports_i-read-annual-reports-of-the-company-i-m_266032.png", "url": "https://sms4smile.com/quotes/i/efa/warren-buffett-183_annual-reports_i-read-annual-reports-of-the-company-i-m_266032.png", "width": 1080, "height": 1080, "caption": "“I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 2, "item": { "@type": "Quotation", "text": "I've already written a section in the annual report for next year explaining why I think in one case that the figures on our balance sheet as calculated are wrong. But it's the standard way of doing it. It's holy writ. The SEC wants us to do it that way, and we'll do it that way, and I'll explain why I think it's wrong and shareholders can read it and see whether they agree with my logic or don't.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/i-ve-already-written-a-section-in-the-annual-report-for-next-year/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/9b1/warren-buffett-183_agree_i-ve-already-written-a-section-in-the-an_430245.jpg", "contentUrl": "https://sms4smile.com/quotes/i/9b1/warren-buffett-183_agree_i-ve-already-written-a-section-in-the-an_430245.jpg", "url": "https://sms4smile.com/quotes/i/9b1/warren-buffett-183_agree_i-ve-already-written-a-section-in-the-an_430245.jpg", "width": 1080, "height": 1080, "caption": "“I've already written a section in the annual report for next year explaining why I think in one case that…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 3, "item": { "@type": "Quotation", "text": "The gross profits in many workouts appear quite small. It's a little like looking for parking meters with some time left on them. However, the predictability coupled with a short holding period produces quite decent average annual rates of return after allowance for the occasional substantial loss.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/the-gross-profits-in-many-workouts-appear-quite-small-it-s-a-little/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/e53/warren-buffett-183_allowance_the-gross-profits-in-many-workouts-appea_484951.jpg", "contentUrl": "https://sms4smile.com/quotes/i/e53/warren-buffett-183_allowance_the-gross-profits-in-many-workouts-appea_484951.jpg", "url": "https://sms4smile.com/quotes/i/e53/warren-buffett-183_allowance_the-gross-profits-in-many-workouts-appea_484951.jpg", "width": 1080, "height": 1080, "caption": "“The gross profits in many workouts appear quite small. It's a little like looking for parking meters with…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 4, "item": { "@type": "Quotation", "text": "When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/when-asked-how-he-became-so-successful-in-investing-buffett-answered/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/971/warren-buffett-183_annual-reports_when-asked-how-he-became-so-successful-i_1060404.png", "contentUrl": "https://sms4smile.com/quotes/i/971/warren-buffett-183_annual-reports_when-asked-how-he-became-so-successful-i_1060404.png", "url": "https://sms4smile.com/quotes/i/971/warren-buffett-183_annual-reports_when-asked-how-he-became-so-successful-i_1060404.png", "width": 1080, "height": 1080, "caption": "“When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 5, "item": { "@type": "Quotation", "text": "When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/when-i-take-a-look-at-a-company-s-annual-report-if-i-don-t-understand/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/198/warren-buffett-183_annual-reports_when-i-take-a-look-at-a-company-s-annual_1552602.png", "contentUrl": "https://sms4smile.com/quotes/i/198/warren-buffett-183_annual-reports_when-i-take-a-look-at-a-company-s-annual_1552602.png", "url": "https://sms4smile.com/quotes/i/198/warren-buffett-183_annual-reports_when-i-take-a-look-at-a-company-s-annual_1552602.png", "width": 1080, "height": 1080, "caption": "“When I take a look at a company's annual report, if I don't understand it, they don't want me to understand…” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 6, "item": { "@type": "Quotation", "text": "Other guys read Playboy. I read annual reports.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/other-guys-read-playboy-i-read-annual-reports/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/587/warren-buffett-183_annual-reports_other-guys-read-playboy-i-read-annual-re_2284413.png", "contentUrl": "https://sms4smile.com/quotes/i/587/warren-buffett-183_annual-reports_other-guys-read-playboy-i-read-annual-re_2284413.png", "url": "https://sms4smile.com/quotes/i/587/warren-buffett-183_annual-reports_other-guys-read-playboy-i-read-annual-re_2284413.png", "width": 1080, "height": 1080, "caption": "“Other guys read Playboy. I read annual reports.” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 7, "item": { "@type": "Quotation", "text": "Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "url": "https://sms4smile.com/quotes/warren-buffett/read-ben-graham-and-phil-fisher-read-annual-reports-but-don-t-do/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/eee/warren-buffett-183_annual-reports_read-ben-graham-and-phil-fisher-read-ann_2536286.png", "contentUrl": "https://sms4smile.com/quotes/i/eee/warren-buffett-183_annual-reports_read-ben-graham-and-phil-fisher-read-ann_2536286.png", "url": "https://sms4smile.com/quotes/i/eee/warren-buffett-183_annual-reports_read-ben-graham-and-phil-fisher-read-ann_2536286.png", "width": 1080, "height": 1080, "caption": "“Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } } ] }, { "@type": "CollectionPage", "@id": "https://sms4smile.com/quotes/about/annuals/warren-buffett/#webpage", "url": "https://sms4smile.com/quotes/about/annuals/warren-buffett/", "name": "Annuals Quotes by Warren Buffett", "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "mainEntity": { "@id": "https://sms4smile.com/quotes/about/annuals/warren-buffett/#itemlist" }, "primaryImageOfPage": { "@id": "https://sms4smile.com/quotes/i/efa/warren-buffett-183_annual-reports_i-read-annual-reports-of-the-company-i-m_266032.png" }, "description": "7 Annuals quotes by Warren Buffett. Plus more from Warren Buffett and more Annuals sayings from other authors.", "breadcrumb": { "@id": "https://sms4smile.com/quotes/about/annuals/warren-buffett/#breadcrumb" } }, { "@type": "BreadcrumbList", "@id": "https://sms4smile.com/quotes/about/annuals/warren-buffett/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Topics", "item": "https://sms4smile.com/quotes/categories/" }, { "@type": "ListItem", "position": 4, "name": "Annuals", "item": "https://sms4smile.com/quotes/about/annuals/" }, { "@type": "ListItem", "position": 5, "name": "Warren Buffett", "item": "https://sms4smile.com/quotes/about/annuals/warren-buffett/" } ] }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```