Cost Quote by Seth Klarman
“Costs and liabilities are rarely overstated.”
About This Quote
Source Book: Margin of Safety, 1991
Financial statements often understate risks, so be cautious.
In simple terms: Risks are often hidden.
Investigate beyond surface numbers.
Themes
Mood
Type
When to use this quote
- investment decisions
- budgeting
- loan assessments
Key Concepts
Questions to Reflect On
- How do you verify risk claims?
- What safeguards do you use?
Overconfidence can still lead to loss.