Quotable Quotes: Satanic Statistics
They say the devil is in the details. Well, how about this detail? On Monday the world population will reach 6,666,666.
Perhaps a few words on statistics might alleviate any hellish thoughts.
“There are three kinds of lies: lies, damned lies, and statistics”
Benjamin Disraeli
“Not everything that can be counted counts; and not everything that counts can be counted.”
George Gallup
“One survey found that ten percent of Americans thought Joan of Arc was Noah's wife.”
Rita Mae Brown
“Figures don’t lie, but liars figure.”
Mark Twain
“A recent survey found that 46% of American men are uncomfortable eating a banana in public.”
David Letterman
Have a good weekend.
2 comments:
It's the same old question of whether it is more useful to attempt to capture risk in a discount rate, or in the re-estimation of expected cash flows. Sure, maybe an argument can be made that the market-wide risk of default went up for some companies and some sectors. But did the risk of default resulting from a tightening of credit go up for mid to large cap industrials because of this? It would be safer to say that risks of default for most non-financials went up due to a slowing of the domestic economy.
So, real value investors will look to capture risk in changes in expected cash flows of companies, not the market discount rate.
same question for a reason
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