“No formula in finance tells you that the moat is 28 feet wide and 16 feet deep. That's what drives the academics crazy. They can compute standard deviations and betas, but they can't understand moats.”
Quote by Warren Buffett
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“Forecasts usually tell us more of the forecaster than of the forecast”
“The greater the potential for reward in the value portfolio, the less risk there is.”
Source: Warren Buffett on Business: Principles from the Sage of Omaha
“Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.”
Source: The Dhandho Investor: The Low-Risk Value Method to High Returns
“Being rational is a moral Imperative. You should never be stupider than you need to be.”
