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Well practically everybody (1) overweighs the stuff that can be numbered, because it yields to the statistical techniques they’re taught in academia, and (2) doesn’t mix in the hard-to-measure stuff that may be more important. That is a mistake I’ve tried all my life to avoid, and I have no regrets for having done that.

Charlie Munger, Vice-Chairman of Berkshire Hathaway

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Posted Jun 15, 2004 | # | Category: Quotations

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