An educated person is one who has learned that information almost always turns out to be at best incomplete and very often false, misleading, fictitious, mendacious - just dead wrong.
— Russell Baker
Breathtaking Incomplete Information quotations
You have a certain set of facts and you are looking for situations where you have an edge, whether the edge is psychological or statistical.
Each of us has a Soul. But no one has stopped to tell us what the Soul is in the world to do. Or if they have told us, they've given us incomplete information - for example, that our job is to get back to God. That is not our job. We couldn't get back to God if we wanted to, because we never left God.
While in theory randomness is an intrinsic property, in practice, randomness is incomplete information.
When you do a cartoon based on news headlines, you do it based on incomplete information.
We also use our imagination and take shortcuts to fill gaps in patterns of nonvisual data. As with visual input, we draw conclusions and make judgments based on uncertain and incomplete information, and we conclude, when we are done analyzing the patterns, that out picture is clear and accurate. But is it?
Of course the thoughts and awareness are there, but it's all incomplete and often fanciful - kids know there's something to know, and they fill in a bunch of the blanks with their imaginations if their parents haven't had the conversations and/or established themselves as sources of information. It's rare that the kids know nothing at all, and the somethings they do know are often only partially right or flat-out wrong.
Investors frequently benefit from making decisions with less than perfect knowledge and are well rewarded for bearing the risk of uncertainty. The time other investors spend delving into the last unanswered detail may cost them the chance to buy into situations at prices so low they offer a margin of safety despite the incomplete information
Obviously, a man's judgement cannot be better than the information on which he has based it. Give him the truth and he may still go wrong when he has the chance to be right, but give him no news or present him only with distorted and incomplete data, with ignorant, sloppy or biased reporting, with propaganda and deliberate falsehoods, and you destroy his whole reasoning processes, and make him something less than a man.
We've moved from wisdom to knowledge, and now we're moving from knowledge to information, and that information is so partial – that we're creating incomplete human beings.