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In the end, the Vietnam War can't be reduced to a problem of miscalculated probability.
And on Thursday, Lucent Technologies lu fell 29% after warning of an earnings shortfall as a result of miscalculated customer demand.
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"But that brings the danger of miscalculating".
Buffett certainly understands the danger of miscalculating risks.
Harcourt Educational Measurement has been accused of miscalculating test scores in Georgia, Delaware and California.
They accused Justice Antonin Scalia of the Supreme Court of miscalculating when he wrote in 2007 that convictions in American courts have only a 0.027 percent error rate.
In June 2001, the Board of Education accused CTB/McGraw-Hill of miscalculating yet another set of scores, this time on a sixth-grade reading test.
Government consultants have been accused of miscalculating the costs of a project to generate vast amounts of green electricity in the Severn estuary, promoting a 10 mile-long tidal barrier strongly backed by ministers in preference to a scheme that engineers and environmentalists say is far less damaging.
But balancing requires deft handling and can fail to prevent war, and history includes examples of miscalculating the balance.
Senate aides who drafted the legislation said the Administration estimate of $40 billion miscalculated the cost of new controls.
In the Sino-Japanese War of 1937 45, even though the Japanese had gained control of most of Shandong by the end of 1937, they miscalculated Chinese strength and suffered a serious defeat their first of the war at Tai'erzhuang, in southern Shandong, in 1938.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com