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— Bruce Kovner"Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money."
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After all we speak of people 'taking refuge' in vagueness -the more precise you are, in general the more likely you are to be wrong, whereas you stand a good chance of not being wrong if you make it vague enough.
— J. L. Austin
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Investing is not a natural science but rather a social science. So, it's never purely empirical; what you are trying to do is everything you possibly can to enhance your probabilities of being right more often than being wrong.
— William Browne
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