Sublime
An inspiration engine for ideas
Anscombe’s Quartet : Four sets of numbers that look identical on paper (mean average, variance, correlation, etc.) but look completely different when graphed. Describes a situation where exact calculations don’t offer a good representation of how the world works.
Morgan Housel • 100 Little Ideas
Non-Ergodic : When group probabilities don’t apply to singular events. If 100 people play Russian Roulette once, the odds of dying might be, say, 10%. But if one person plays Russian Roulette 100 times, the odds are dying are practically 100%.
Morgan Housel • 100 Little Ideas
we often just use the data people put in front of us. I would argue we don’t do a good job of saying, ‘Is this the data that we want to make the decision we need to make?’”
(Journalist) David Epstein • Range: How Generalists Triumph in a Specialized World
Author of the Infamous “The Black Swan”, Nassim Taleb explains Fat Tails:
https://t.co/yr1sWlyMgs
ₕₐₘₚₜₒₙ — e/accx.com
I recommend these 3 books for anyone looking to unravel the mysteries of statistics and probability! From storytelling in data to the logic of uncertainty and simplifying complex concepts, these reads are essential. Dive in to transform how you see the world through numbers!
1. The Art of Statistics: How to Learn from Data" by David ... See more
In statistical distributions with thick tails, as Nassim Taleb says, the tail wags the dog . The relevant information is all in the tails, not in the body. Why would an allocator want statistical estimators to ignore the tail and instead overweight the center of the distribution, which is predominantly noise?
An Allocator’s Manifesto: Why is every single fund top quartile?
