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Winning Investors Over: Surprising Truths About Honesty, Earnings Guidance, and Other Ways to Boost Your Stock Price by Baruch Lev

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Chapter 14

What Then Must We Do?

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Warren Buffett, in his celebrated annual letters to Berkshire Hathaway’s shareholders, imparted profound business acumen.1 Some major Buffett principles are: the best managers think like and “walk in the shoes of owners.” Forthrightness and candor in managers’ communications with shareholders is of the utmost importance. Stock markets are not efficient, and both undervalued and overvalued shares exist and are dysfunctional, and they therefore have to be adjusted to intrinsic values. Most corporate acquisitions are value decreasing. Accounting information can be easily manipulated, and even when not, doesn’t inform much about business value; therefore, extensive adjustments are needed to make ...

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