Quote: von Neumann on Overfitting

I remember my friend Johnny von Neumann used to say, with four parameters I can fit an elephant, and with five I can make him wiggle his trunk. includes the quote attributed to Hungarian-American mathematician John von Neumann (1903 - 1957). The full quote was relayed by Enrico Fermi in 1953 when he was asked about the value of a result that used four free parameters in fitting experimental results. (see "A meeting with Enrico Fermi" "Nature" 427: p. 297.)