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This flaming of bankers is emotion fueled not logic fueled. IMO, it's not helpful. From the article: So it’s a typo: no big deal, right? Yeah, but what a typo
by tomsaffell 18y ago
This flaming of bankers is emotion fueled not logic fueled. IMO, it's not helpful. From the article:
So it’s a typo: no big deal, right? Yeah, but what a typo! It got past Bloomberg and JP Morgan and pretty much all of Wall Street before someone said, Hey, this makes no sense! ... And who was that someone? Me! A nobody
I imagine that the vast majority of bankers who saw this chart realized this error very quickly. I only have 2 data points to support that, but both the bankers that I know spotted this instantly, on Jan 21 when they first saw the chart.
- biohacker42 18y agoI imagine that the vast majority of bankers who saw this chart realized this error very quickly. Are you sure? In my own entirely subjective and unscientific experience, a minority of people on wall street are very good at math. And they are usually not in positions of authority, some times, but not in general.
- Retric 18y agoI would like to suggest that showing changes in value as a square of the difference might be useful because they multiply over time. A stock can drop of 5% that occurs 13 times is less important than a single 50% drop. 40 drops of 5% are less important than a single 90% drop. DryShips for example down ~95% from last year that's the equivalent of ~50 drips of 5%. I suspect most people in finance understands the math, but at the instinctive level most people just don't feel it. So what's the correct way to display information like that visually? x, x log x, x^2