Maximization of returns is overrated. Avoidance of ruin is underrated. Growth is overrated. Longevity is underrated. Entry multiple is overrated. Exit multiple is underrated. Price-to-earnings ratio is overrated. Duration of competitive advantage period is underrated. Categorization of stocks into large cap, mid cap, and small cap is overrated. Categorization of businesses into great, good, and gruesome is underrated. Being more frequently right than others is overrated. Being less wrong than others is underrated. Forecasting is overrated. Preparation is underrated. Confidence is overrated.
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