I would rather sustain the penalties resulting from over-conservatism than face the consequences of error, perhaps with permanent capital loss, resulting from the adoption of "New Era" philosophy where trees really do grow to the sky.
Warren BuffettForecasts may tell you a great deal about the forecaster; they tell you nothing about the future.
Warren BuffettWhat could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?
Warren Buffett