Is It Better to Be Grinally Right Than Exactly Wrong?

Munger: There's a great quote i can't remember who buffet is quoting, but i think he or charley was quoting somebody. And it goes like this, it's better to be roughly right than precisely wrong. So go ahead with your you are probably getting to the third method which is where we climb into the dangerous territory of trying to be precisely right, really. That is the danger of the of the a of the valuation exercise called margin of safety that we talk about in the book.