Warren Buffett Quotes

It is better to be approximately right than to be precisely wrong.

 
Context
There is a great tendency in politics and government operations to get extremely precise numbers because political opponents will always attack all numbers that do not support their positions. The result is that typically, so much time and money goes into trying to get precision, that by the time the numbers are good enough the opportunity to make the right policy decision will have passed. Much information that bears on an issue is never used because it is not precise enough while the precise information is not particularly relevant. See {619763} for a similar related quote.
Citations

Warren Buffet, Industrialist and Financier, Quoted By Rick Edelman, PBS March 8, 2008

Eigen's Political and Historical Quotations


Warren Buffett
Warren Buffett
  • Born: August 30, 1930
  • Nationality: American
  • Profession: Investor, Business Magnate, Speaker Philanthropist

Warren Edward Buffett is an American business magnate, investor, speaker and philanthropist who serves as the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of US$84.4 billion as of November 1, 2018, making him the third-wealthiest person in the world.

Trending Quotes