It is widely thought in philosophy and elsewhere that parsimony is a theoretical virtue in that if T1 is more parsimonious than T2, then T1 is preferable to T2, other things being equal. This thesis admits of many distinct precisifications. I focus on a relatively weak precisification on which preferability is a matter of probability, and argue that it is false. This is problematic for various alternative precisifications, and even for Inference to the Best Explanation as standardly understood.