"We should **never aim for precision in our valuation efforts, but merely for accuracy**. As much as mathematical models seem precise, more often than not, a back of a napkin calculation is worth more than hundreds of spreadsheets of data." ([Location 2413](https://readwise.io/to_kindle?action=open&asin=B07CNFFJ9J&location=2413)) --- **Tags** -- [[quotes]], [[the-map-is-not-the-territory]], [[valuations]], [[value-investing]], [[uncertainty-avoidance]] **Source** -- [[202506221723 - LN - Modern Value Investing]]