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Almost everyone's instinct is to be overconfident and read way too much into a hot or cold streak.
Nate Silver
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Nate Silver
Age: 46
Born: 1978
Born: January 13
Journalist
Mathematician
Poker Player
Statistician
East Lansing
Michigan
Nathaniel Read Silver
Nathaniel Read Nate Silver
Instinct
Cold
Almost
Read
Everyone
Much
Streak
Way
Streaks
Hot
More quotes by Nate Silver
Caesar recognized the omens, but he didn't believe they applied to him.
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To the extent that you can find ways where you're making predictions, there's no substitute for testing yourself on real-world situations that you don't know the answer to in advance.
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People still don't appreciate how ephemeral success is.
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I was looking for something like baseball, where there's a lot of data and the competition was pretty low. That's when I discovered politics.
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Whenever you have dynamic interactions between 300 million people and the American economy acting in really complex ways, that introduces a degree of almost chaos theory to the system, in a literal sense.
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One of the pervasive risks that we face in the information age, as I wrote in the introduction, is that even if the amount of knowledge in the world is increasing, the gap between what we know and what we think we know may be widening.
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Remember, the Congress doesn't get as many opportunities to make an impression with the public.
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In baseball you have terrific data and you can be a lot more creative with it.
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Actually, one of the better indicators historically of how well the stock market will do is just a Gallup poll, when you ask Americans if you think it's a good time to invest in stocks, except it goes the opposite direction of what you would expect. When the markets going up, it in fact makes it more prone toward decline.
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I don't think that somebody who is observing or predicting behavior should also be participating in the 'experiment.'
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Economy is not baseball, where the game is always played by the same rules.
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I know it's cheaper to fund an op-ed columnist than a team of reporters, but I think it confuses the mission of what these great journalistic brands are about.
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I don't play fantasy baseball anymore now because it's too much work, and I feel like I have to hold myself up to such a high standard. I'm pretty serious about my fantasy football, though.
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The public is even more pessimistic about the economy than even the most bearish economists are.
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I view my role now as providing more of a macro-level skepticism, rather than saying this poll is good or this poll is evil.
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I have to make sure that I make good choices and that if I put my name on it, it's a high-quality endeavor and that I have time to be a human being.
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