Warren E. Buffett
written by Warren E. Buffett
Preface
This handbook, and Chairman Levitt’s whole drive to encourage “plain
English” in disclosure documents, are good news for me. For more than
forty years, I’ve studied the documents that public companies file. Too
often, I’ve been unable to decipher just what is being said or, worse yet,
had to conclude that nothing was being said. If corporate lawyers and
their clients follow the advice in this handbook, my life is going to
become much easier.
There are several possible explanations as to why I and others some
times stumble over an accounting note or indenture description. Maybe
we simply don’t have the technical knowledge to grasp what the writer
wishes to convey. Or perhaps the writer doesn’t understand what he or
she is talking about. In some cases, moreover, I suspect that a less-than
scrupulous issuer doesn’t want us to understand a subject it feels legally
obligated to touch upon.
Perhaps the most common problem, however, is that a well-intentioned
and informed writer simply fails to get the message across to an
intelligent, interested reader. In that case, stilted jargon and complex
constructions are usually the villains.
This handbook tells you how to free yourself of those impediments to
effective communication. Write as this handbook instructs you and you
will be amazed at how much smarter your readers will think you have
become.
One unoriginal but useful tip: Write with a specific person in mind.
When writing Berkshire Hathaway’s annual report, I pretend that I’m
talking to my sisters. I have no trouble picturing them: Though highly
intelligent, they are not experts in accounting or finance. They will
understand plain English, but jargon may puzzle them. My goal is
simply to give them the information I would wish them to supply me
if our positions were reversed. To succeed, I don’t need to be
Shakespeare; I must, though, have a sincere desire to inform.
No siblings to write to? Borrow mine: Just begin with “Dear Doris
and Bertie.” •
source:
www.sec.gov
A plain English handbook : how to creat clear SEC disclosure documents,
by the Office of investor education and assistance,
u.s. securities and exchange commission
450 5th street, n.w.
washington, DC 20549
August 1998
Of course, when drafting a document for filing with the SEC, you must make sure it meets all legal requirements.
Nancy M. Smith, director, office of investor education and assistance
Special thanks to Warren Buffett for his support and preface, to Ken Morris of Lightbulb press, and to the talented staff at Siegel & Gale. I am especially grateful to the statff of my office for givinge me the time and support I needed to work on the handbook.
Ann Wallace, from the division of corporation finance;
Carolyn Miller, formerly of Siegel & Gale and now with the SEC;
William Lutz, author and professor of English at Rutgers university.
to locate the URL link for
A plain English handbook : how to create clear SEC disclosure documents;
try bing or google, using
A plain English handbook, sec.gov
as the search parameter
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‘’•─“”
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πόλλ' οἶδ' ἀλώπηξ,ἀλλ' ἐχῖνος ἓν μέγα πόλλ' οἶδ' ἀλώπηξ,ἀλλ' ἐχῖνος ἓν μέγα
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*2 “This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering professional services. If professional advice or other expert assistance is required, the services of a competent professional person should be sought.”
──From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations
(Ackoff's best : his classic writings on management, Russell L. Ackoff., © 1999, hardcover, John Wiley & Sons, Inc., p.139)
“This [copy & paste reference note] is designed to provide accurate and authoritative information in regard to the subject matter covered. It is [archive] with the understanding that the [researcher, investigator] is not engaged in rendering professional services. If professional advice or other expert assistance is required, the services of a competent professional person should be sought.”
──From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations
--
No part of this publication may be reproduced, stored in, or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording, or otherwise), without the prior permission of the publisher.
The W. Edwards Deming Institute. All rights reserved. Except as permitted under the United States copyright act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher.
NOTICE: In accordance with Title 17 U.S.C., section 107, some material is provided without permission from the copyright owner, only for purposes of criticism, comment, scholarship and research under the "fair use" provisions of federal copyright laws. These materials may not be distributed further, except for "fair use," without permission of the copyright owner. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml
notice: Do not purchase this book with the hopes of curing cancer or any other chronic disease
We offer it for informative purposes to help cope with health situations and do not claim this book furnishes information as to an effective treatment or cure of the disease discussed ─ according to currently accepted medical opinion.
Although it is your right to adopt your own dietary and treating pattern, never the less suggestions offered in this book should not be applied to a specific individual except by his or her doctor who would be familiar with individual requirements and any possible complication. Never attempt a lengthy fast without competent professional supervision.
____________________________________
*2 “This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering professional services. If professional advice or other expert assistance is required, the services of a competent professional person should be sought.”
──From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations
(Ackoff's best : his classic writings on management, Russell L. Ackoff., © 1999, hardcover, John Wiley & Sons, Inc., p.139)
“This [copy & paste reference note] is designed to provide accurate and authoritative information in regard to the subject matter covered. It is [archive] with the understanding that the [researcher, investigator] is not engaged in rendering professional services. If professional advice or other expert assistance is required, the services of a competent professional person should be sought.”
──From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations
--
No part of this publication may be reproduced, stored in, or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording, or otherwise), without the prior permission of the publisher.
The W. Edwards Deming Institute. All rights reserved. Except as permitted under the United States copyright act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher.
NOTICE: In accordance with Title 17 U.S.C., section 107, some material is provided without permission from the copyright owner, only for purposes of criticism, comment, scholarship and research under the "fair use" provisions of federal copyright laws. These materials may not be distributed further, except for "fair use," without permission of the copyright owner. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml
notice: Do not purchase this book with the hopes of curing cancer or any other chronic disease
We offer it for informative purposes to help cope with health situations and do not claim this book furnishes information as to an effective treatment or cure of the disease discussed ─ according to currently accepted medical opinion.
Although it is your right to adopt your own dietary and treating pattern, never the less suggestions offered in this book should not be applied to a specific individual except by his or her doctor who would be familiar with individual requirements and any possible complication. Never attempt a lengthy fast without competent professional supervision.
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