@InvestingCanons
Warren Buffett: "I spend more time looking at balance sheets than I do income statements." Wall Street obsesses overly quarterly earnings, so you might think to start with the income statement. But Buffett explained why he starts with balance sheets: "There are certain things that are harder to hide or play games with on the balance sheet than you can with the income statement." So, Buffett likes to look at balance sheets "over an 8 to 10 year period" before he even looks at the income statement. "You learn more from balance sheets, in my view, than most people give them credit for."