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Quote by W. Edwards Deming

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W. Edwards Deming
W. Edwards Deming

W. Edwards Deming was a renowned statistician and management consultant, best known for his contributions to quality management theory. He worked for the United States Navy during World War II and later promoted the concept of statistical process control (SPC). Deming's theories and methods had a profound impact on the manufacturing industries in Japan and other countries, widely regarded as a key factor in Japan's economic miracle. more

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“Even with a margin of safety in the investor's favor, an individual security may work out badly. For the margin guarantees only that he has a better chance for profit than for loss - not that loss is impossible. But as the number of such commitments is increased the more certain does it become that the aggregate of the profits will exceed the aggregate of the losses.”