"The data set of proxies of past climate used in Mann...for the estimation of temperature from 1400 to 1980 contains collation errors, unjustifiable truncation or extrapolation of source data, obsolete data, geographical location errors, incorrect calculation of principal components and other quality control defects."

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Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life. The calculation of intrinsic value, though, is not so simple. As our definition suggests, intrinsic value is an estimate rather than a precise figure, and it is additionally an estimate that must be changed if interest rates move or forecasts of future cash flows are revised.

— Warren Buffett