Betting versus predicting...........

Is Warren Buffet a Guru? Maybe. But he would say no. He would say that he has a process in place that guards against magical thinking, like predicting the direction of the market. He analyzes companies better than most, and he makes huge bets on the ones he thinks will be winners in the future. But he's betting - he's not predicting. There's a difference.

-T. Erik Conley, as cut and pasted from here