"We try and predict what individual investments will swim well in relation to the tide. And then we tend to accept the effects of the tide as those effects fall." -Charlie Munger (Wesco 2001 Annual Meeting, via Charlie Munger: The Complete Investor)
"We're emphasizing the knowable by predicting how certain people and companies will swim against the current. We're not predicting the fluctuation in the current." -Charlie Munger