[quote user=ThomasBeyer]I think W Buffet said this: Common sense is not so common.
Actually W Buffett (not "Buffet" which is what I get when I go to certain restaurants) didn't say this or anything like it. I'm open to hearing any sources that state otherwise?
As a review, I responded to the incorrect implication that W Buffett reads financial data in order to predict the future with well known quotes by the man that states otherwise.
Specifically,
[quote user=MaximeValmont]Alright you got me.
Obviously i'm wrong.
We can't predict the market.
I'll start to call all the financial firms tomorrow to tell them to read this thread, maybe they will become enlightened after that. I'll start with Warren Buffet, i've heard he is reading financial data all day long, he needs to stop that crazyness RIGHT NOW.
"There is nothing more uncommon than common sense" is an anonymous saying dating back at least to it's original citation in Natural Theology (1836) by Thomas Chalmers where he stated that "It has been said that there is nothing more uncommon than common sense." in his article, "On the Strength of the Evidences for God in the Phenomena of Visible and External Nature". It has since become misattributed to many individuals including Frank Lloyd Wright and (now) W Buffett.
[quote user=ThomasBeyer]So it is quite predictable that Toronto's condo prices will flatline or decline for some time.
Obviously we are working with different definitions of the proposed adjective, "precise".
[quote user=Rickson9]"Overvalued" doesn't mean anything. Overvalued only means something after the fact; after a collapse. Until that point, it's really quite meaningless.
[quote user=Rickson9]As this thread is showing quite nicely as everybody continues to talk in unactionable circles.
[quote user=Warren Buffett]
"We've long felt that the only value of forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children."
"I don't read economic forecasts. I don't read the funny papers"
"The fact that people will be full of greed, fear, and folly is predictable. The sequence is not predictable."