Who needs theory when you have so much information? But this is categorically the wrong attitude to take toward forecasting, especially in a field like economics where the data is so noisy.
Statistically speaking, there is a 65 percent chance that the love of your life is having an affair. Be very suspicious.
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Scott Dikkers
A recent survey or North American males found 42% were overweight, 34% were critically obese and 8% ate the survey.
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Banksy
I couldn't claim that I was smarter than sixty-five other guys--but the average of sixty-five other guys, certainly!
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Richard Feynman
All statistics have outliers.
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Nenia Campbell
There are three types of lies -- lies, damn lies, and statistics.
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Benjamin Disraeli
More Quotes By Nate Silver
Who needs theory when you have so much information? But this is categorically the wrong attitude to take toward forecasting, especially in a field like economics where the data is so noisy.
In science, progress is possible. In fact, if one believes in Bayes' theorem, scientific progress is inevitable as predictions are made and as beliefs are tested and refined.
Under Bayes' theorem, no theory is perfect. Rather, it is a work in progress, always subject to further refinement and testing.
...the ratings agencies' problem was in being unable or uninterested in appreciating the distinction between risk and uncertainty.
Distinguishing the signal from the noise requires both scientific knowledge and self-knowledge: the serenity to accept the things we cannot predict, the courage to predict the things we can, and the wisdom to know the difference.
