To be conservative, then, is to prefer the familiar to the unknown, to prefer the tried to the untried, fact to mystery, the actual to the possible, the limited to the unbounded, the near to the distant, the sufficient to the superabundant, the convenient to the perfect, present laughter to utopian bliss.

If you understood a business perfectly and the future of the business, you would need very little in the way of a margin of safety. So, the more vulnerable the business is, assuming you still want to invest in it, the larger margin of safety you'd need. If you're driving a truck across a bridge that says it holds 10,000 pounds and you've got a 9,800 pound vehicle, if the bridge is 6 inches above the crevice it covers, you may feel okay, but if it's over the Grand Canyon, you may feel you want a little larger margin of safety...

Being conservative is a way of being skeptic.

Conservative, n: A statesman who is enamored of existing evils, as distinguished from the Liberal who wishes to replace them with others.

Conservative, n. A statesman enamored of existing evils, as opposed to a Liberal, who wants to replace them with others.

To be conservative in politics is to take one’s bearings not from the latest bright idea about how to make a better world, but by looking carefully at what the past reveals both about the kind of people we are and the problems that concern us. As we get older, we often become conservative in our habits, in our family practices, and in our recognition of the richness of our civilization, but this evolution of our character into a set of habits in no way blocks adventurousness. The old no less than the young may be found starting new enterprises, sailing around the world, and solving arcane academic questions. But it is in the ordinary business of life that we find our excitement, not in foolish collective dreams of political perfection.

Conservatism... means we take the things that we know work and we keep... and maintain them. ...[I]f you want to try something new... you're careful... you're cautious... you're skeptical of it. If it turns out it works we'll try incorporating that, but we have a great skepticism about doing that. Well, that's not what we got. We got radical ideas that no one else in the world is doing. ...[T]hese other countries are having fewer problems, and their middle class is better off, because they didn't do these radical things. They were in fact, conservative. Now the things they did, we might view as liberal, but they were conservative in hanging on to those things.

CONSERVATIVE, n. A statesman who is enamored of existing evils, as distinguished from the Liberal, who wishes to replace them with others.

the purpose of the margin of safety is to render the forecast unnecessary.

Clinging to any form of conservatism can be dangerous. Become too conservative and you are unprepared for surprises. You cannot depend on luck. Logic is blind and often knows only its own past. Logic is good for playing chess but is often too slow for the needs of survival.

A conservative is someone who does not think he is morally superior to his grandfather.

In art, the conservative is the vigorous custodian of the artistic treasures of a civilization, of its established values and its tastes-those of the past and even those present ones which have become accepted. Without the conservative we would know little of the circumstances of past art; we would have lost much of its meaning; in fact, we would probably have lost most of the art itself. However greatly the creative artist may chafe at entrenched conservatism, it is still quite true that his own work is both sustained and enriched by it.

Now if Conservative has any meaning at all, it means anti-Radical. The Radicals are the only inheritors of the revolutionary views which the Conservative party was set up to counteract; and the two can no more act together, if both are honest, than a weasel can act with a rat. Hostility to Radicalism, incessant, implacable hostility, is the essential definition of Conservatism. The fear that the Radicals may triumph is the only final cause that the Conservative party can plead for their own existence.

A conservative is someone who helps disguise the true nature of a democratic state. The conservative is ineffective by definition, because his goal is to make democracy work properly. The fact that it does not work properly, has never worked properly, and will never work properly, sails straight over his head. He therefore labors cheerfully as a tool for his enemies.