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When human judgment and big data intersect there are some funny things that happen
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
Humans
Intersect
Things
Data
Judgment
Happen
Funny
Bigs
Happens
Human
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First of all, I think it's odd that people who cover politics wouldn't have any political views.
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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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A lot of things can't be modeled very well.
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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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Almost everyone's instinct is to be overconfident and read way too much into a hot or cold streak.
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The public is even more pessimistic about the economy than even the most bearish economists are.
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Any one game in baseball doesn't tell you that much, just as any one poll doesn't tell you that much.
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People don't have a good intuitive sense of how to weigh new information in light of what they already know. They tend to overrate it.
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Basically, books were a luxury item before the printing press.
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Every day, three times per second, we produce the equivalent of the amount of data that the Library of Congress has in it's entire print collection, right? But most of it is like cat videos on YouTube or thirteen-year-olds exchanging text messages about the next 'Twilight' movie.
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New ideas are sometimes found in the most granular details of a problem where few others bother to look.
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The signal is the truth. The noise is what distracts us from the truth.
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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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Remember, the Congress doesn't get as many opportunities to make an impression with the public.
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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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You get steely nerves playing poker.
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I don't think you should limit what you read.
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