Why would Buffett oppose to EBITDA and financial forecasts?

In Buffett’s 2020 shareholder letter, he mentioned several common but unreasonable accounting techniques used by CEOs of US-listed companies in their financial statements: especially EBITDA and financial forecasts.

M&A options’ taxation, accounting items, and rights and obligations arrangements

In Buffett’s 1999 shareholder letter (the content in italics in this article), he spent a lot of space explaining to investors the taxation, accounting items, and rights and obligations of many corporate M&A options.

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