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Sometimes it takes longer to create value, but if the companies generate more earnings, the stocks will ultimately reflect that.

There is nothing wrong with good accounting, except that it does not necessarily lead to good science.

Financial analysts make a lot more than accountants.

Stock prices relative to company assets are no better at signaling the likelihood of future earnings growth than they were the day the Titanic sank, and risk management is a good deal worse.

Accounting rules give financial institutions flexibility about when they choose to recognize venture capital profits.

I have almost no interest in quarterly reports. Running a business or investing in a business based on quarterly earnings doesn't make any sense at all to me.

We have the most crude accounting tools. It's tragic because our accounts and our national arithmetic doesn't tell us the things that we need to know.

Capital isn't this pile of money sitting somewhere; it's an accounting construct.

Approaches to determining stock values vary, but fundamentally, each company judging itself undervalued is saying that its future stream of earnings justifies a higher price than the stock market is willing to accord it.

For the most part, earnings and market value growth are a result of reduced expenses.