Charlie Munger: Higher mathematics

“Some of the worst business decisions I’ve ever seen are those that are done with a lot of formal projections and discounts back…. The trouble is that you get to believe the figures. And it seems that the higher mathematics, with more false precision, should help you. But it doesn’t. The effects, averaged out, are negative when you try and formalize it to the degree you’re talking about.”

—Charlie Munger. 

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