Agree Quote by Warren Buffett
“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.”
About This Quote
Source Speech: Annual Shareholder Letter, Warren Buffett, 1995
He critiques the conventional accounting narrative mandated by regulators, exposing its potential inaccuracies despite its official status.
In simple terms: Questioning official financial narratives can reveal hidden errors.
Key Takeaway
Challenge accepted accounting norms.
Themes
accounting
regulation
transparency
critical thinking
Mood
cautious
analytical
Type
critical
reflective
When to use this quote
- annual report drafting
- financial analysis
- board meetings
- audit reviews
Key Concepts
financial reporting
SEC compliance
shareholder communication
Questions to Reflect On
- How can companies balance compliance with truth?
- What risks arise from questioning standard reports?
A Different Perspective
Regulatory constraints may limit how openly errors can be disclosed.
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