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— J. L. Austin"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."
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In their zeal for particular kinds of decisions to be made, those with the vision of the anointed seldom consider the nature of the: process: by which decisions are made. Often what they propose amounts to third-party decision making by people who pay no cost for being wrong-surely one of the least promising ways of reaching decisions satisfactory to those who must live with the consequences.
— Thomas Sowell
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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.
— Bruce Kovner
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