“Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the symbols. Our advice: Beware of geeks bearing formulas.”

in Investing, Warren E. Buffett, Writers

-Warren E. Buffett, 2008 Chairman’s Letter to the Shareholders of Berkshire Hathaway, Inc.

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