Seth Godin’s latest blog entry reminds me of elementary school arithmetic. I got a lot of answers wrong in the “estimating” unit of math class, because my estimations were too accurate, and didn’t match what the “correct” estimate was in the answer key.

I don’t try to pick turns in any kind of an industry in terms of buying stocks. I just like to buy them when I think they’re cheap relative to their long-term earning power.

Warren Buffett via clusterstock.com