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Finance

Greater Fool Theory – How Does It Really Work?

Published on July 10, 2022 by Hemanth

Greater Fool Theory - How Does It Really Work? - An illustration showing a stick figure at the centre organising an auction with a hammer and slamming it on a table. On the left is another stick figure shouting "300!" This stick figure is labelled "Fool". On the right is another stick figure shouting "500!" This stick figure is labelled "Greater Fool".
The greater fool theory from the field of finance models crowd psychology around overvalued assets. Knowledge about this theory helps you avoid market traps!
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How To Really Understand Pascal’s Wager

Published on July 8, 2022 by Hemanth

How To Really Understand Pascal's Wager - An image showing a portrait of Blaise Pascal on the left and the second edition of Pascal's Pensées on the right. At the centre is an arrow pointing from left to right.
Pascal’s wager is a theological argument made by the iconic science figure, Blaise Pascal. The plot twist is that it involves bets and scientific thinking!
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How To Really Solve This Tricky Algebra Problem? (IV)

Published on June 6, 2022 by Hemanth

How To Really Solve This Tricky Algebra Problem? (IV) - An image showing the following equations on the left: x² + y² = 7 and x³ + y³ = 10. On the right, the following equation is written: x + y = ??. Below this equation, the following information is provided in a box: x,y ∈ ℝ.
Welcome to the fourth entry in the tricky algebra problem series. In this entry, you get to solve a fun and challenging math olympiad level algebra problem!
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How To Really Choose Between Favourite Experiences And Trying New Ones?

Published on May 31, 2022 by Hemanth

How To Really Choose Between Favourite Experiences And Trying New Ones? - An illustrative image where on the left, a restaurant named "Favourite Restaurant" is open and on the right, a restaurant named "New & Trendy Restaurant" is open. In the middle, a stick figure is seen undecided between the two restaurants with a bubble dialogue of "?"
Every day in life, you are faced with situations where you have to choose between favourite experiences and new ones. This essay uses science to solve this!
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How To Really Understand The Concept Of An Algorithm?

Published on May 25, 2022 by Hemanth

How To Really Understand The Concept Of An Algorithm? - An illustration that shows a stick figure on the left with the dialogue bubble: "I have a problem!" This points to → A box that says "Do this first." → Then, a box that says "Then, do this." → Then, a box that says "Finally, do this." → This points to another version of the same stick figure from before with the dialogue bubble: "Problem solved!"
When you think of the word “algorithm”, you are likely to associate it with computers or computer science. But algorithms go well beyond computers and tech!
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How To Really Avoid P-Value Hacking In Statistics?

Published on May 24, 2022 by Hemanth

How To Really Avoid P-Value Hacking In Statistics? - A table with the following columns: Test, Fail, and Pass; and the following rows: Reality, effective, and not effective. Top left: "False Negative", Top right: "True Positive", Bottom left: "True Negative", Bottom right: "False Positive".
P-value hacking is a phenomenon that is currently ensuring that most published statistical research findings are false. If you are into science, you need this!
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How To Actually Avoid The Transposed Conditional

Published on May 20, 2022 by Hemanth

How To Actually Avoid The Transposed Conditional? - An image showing a cute little cow with black and white spots on the left and cute little dog with black and white spots on the right. The cow is standing and the dog is jumping. The cow has a pink nose and pink inner-sides of ears. Likewise, the dog has a pink belly, pink inside of its mouth and pink inside of its ears. The cow says "I have four legs. So, I'm a cow!" The dog says "I have 4 legs. So, I'm also a cow!"
The transposed conditional is another one of those subtle but very consequential misunderstandings in the field of statistics. Read the essay to learn more!
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How To Perfectly Predict Improbable Events

Published on May 15, 2022 by Hemanth

How To Perfectly Predict Improbable Events - Illustrative art that shows a lonely house near a tree in the middle of nowhere. There is a large grey cloud hovering over the plane, and is pouring rain down. On the left, at a time of 18:01, the tree seems to be struck by a rod of lightning. On the right, at 18:02, the tree seems to be struck by two more rods of lightning. The tree says (on the right): "What did I do to deserve this?!"
All you need to perfectly predict improbable events is the power of mathematics. If you find this hard to believe, read the essay. It will change your mind!
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How To Really Treat Percentages With Negative Numbers

Published on May 13, 2022 by Hemanth

How To Really Treat Percentages With Negative Numbers - A table listing the following information: Product A → Return: 600 ; Product B → Return: 400 ; Product C → Return: -400; Total Return: 600. Below the table the following question is written: "What is A's contribution to the total return?"
When do you really need to treat percentages with negative numbers? “Not often. If not, never!” If this is your answer, think again! It's not that simple!
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The Bell Curve Performance Review System Is Actually Flawed

Published on May 12, 2022 by Hemanth

The Bell Curve Performance Review System Is Actually Flawed - An illustrative graph that shows a normal distribution, where the right tail (20%) is classified as "top performers". The central bell (70%) is classified as "average performers", and the left tail (10%) is classified as "non-performers".
The Bell Curve performance review system is one of the most prominently used systems in the corporate world. Yet, it is, at best, pseudo science!
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