Posted inWisdom

Wise advice on Verified

The most important part of every plan is planning on the plan not going according to plan - Morgan Housel
At its core, this quote means that the true value of planning isn't in creating a perfect, linear path, but in building a robust system that can withstand the inevitable deviations from that path.
Posted inWealth

Quotes about Verified principles

The purpose of the margin of safety is to make an estimate of the future unnecessary - Benjamin Graham
It means you build in such a large buffer of safety when you invest that you're insulated from being wrong. You don't have to predict the future perfectly because your downside is already protected.