I keep a copy of How to Lie with Statistics on my desk. It was compulsory reading on degree courses in England in the 1970s.
Other headings to remember:-
The sample with the built in bias
The well chosen average.
The semi-attached figure.
There are many more terrific examples of massaging the figures. This small book (124 pages, including pictures) should be compulsary reading for anyone reviewing information.
28 Aug 2019 00:20 Read comment
What about Building Societies in the UK (the US equivalent is a Savings and Loans organisation)? They are not for profit organisations that can be very large and compete with commecial banks. The Nationwide Building Society in the UK is as big as most commercial banks and has a large number of branches.
27 Aug 2019 11:20 Read comment
Thank you for updating Darrel Huff's 1954 book - How to lie with statistics. He described the Gee Whiz Graph, which does not have zero on either axis, so the presenter can make the graph show whatever they want it to show.
I am continually amazed by the number of newspapers and websites that use Gee Whiz graphs to prove whatever point they want to prove.
27 Aug 2019 11:16 Read comment
What is complex about doing this?
13 Aug 2019 17:14 Read comment
At $11,348.30 you would be sitting on a loss of $6,200 if you bought in December 2017. The yo-yoing price of Bitcoin is greater than almost any investment available.
12 Aug 2019 16:33 Read comment
The most important fact in this Blog is that 64% of all Bitcoin that have ever existed have been lost.
I can think of no reason why anyone, other than criminals, porn watchers or tax evaders, would want to invest in a currency with the risk of losing two thirds of their investment, particularly one that has such a roller coast ride of value.
09 Aug 2019 08:41 Read comment
It means from 1st November 2019 we no longer have to adhere to the EBA, except for Euro payments.
07 Aug 2019 15:49 Read comment
The European Anti-money laudering directive is extremely unlikely to work on Bitcoin and other crypto currencies. Even if it does, it makes the use of crypto currency even less useful.
05 Aug 2019 16:56 Read comment
I am at a loss to understand why I would want to invest in a highly volatile currency to pay for simple services, such as tuition fees, shopping, buying a pizza, etc.
I perceive that the only value of crypto currencies outside of purchases on the dark web, or watching pornography, is to gamble on the rate of exchange, avoid paying tax, hide income or similar.
I have a regular bank account to pay for regular purchases and have no reason to hide these activities from anyone. Why do I need a crypto currency account?
02 Aug 2019 09:02 Read comment
Interesting theory, but totally impractical for the great majority of the population. I detect a significant bias by the presenter.
30 Jul 2019 15:15 Read comment
Joshua FrithManaging Director at The Dubs
David BaxterManaging Director at T-Scape
Greg SmithManaging Director at FT Partners
Andrey DobryninManaging Director at InvestEngine
Pierre LegrandManaging Director at Alvarez and Marsal
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