Cameron

@cam751

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Stashing since Nov 11, 2020

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119 Stashed Ideas

Statistics is using math to do technical analysis of data. Instead of guesstimating, data helps us get concrete and factual information.

The most widely used statistical concept in data science is called Statistical Features. It includes important measurements like bias, variance, mean, median and percentiles. It’s all code-friendly too.

@cam751

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Problem Solving

Ditch Your Learning Style

Learning styles (visual, auditory etc.) have actually little impact on our ability to learn.

The best way to learn depends on what you’re trying to learn in the first place. The key is to interact with the information. Using multiple sources will help you with this. Don't stick to books alone—gather relevant videos, podcasts, movies, and blogs as well.

Warren Buffett
“Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”
Hindsight Bias

Hindsight bias is a false belief that our judgement is better than it actually is when we look back and see the events. Reality appears more predictable after an event happens. This is also known as the ‘Knew-it-all-along effect’.

This bias makes people less accountable for their decisions, and overconfident in their ability to make those decisions, due to the various mental models that they have developed.

Confirmation Bias: Selective Spotlighting That Is Inevitable

Confirmation bias is a common tendency to self-promote and validate our own beliefs. Most controversial issues have people who are for or against the given topic, and tend to look at points that support their existing belief patterns.

Daniel Kahneman, a Nobel prize winning psychologist states that though we can be provided with tools to be aware of the cognitive errors and biases in humans, we are still unable to fix our own.

Circle of competence

If you want to improve your odds of success in life and business then define the perimeter of your circle of competence, and operate inside. 

The concept has been used by Warren Buffett and relates to the importance of  honestly definining what we do know and to stick to those areas. 

The circle can be widened, but only slowly and over time. 

The Perfect Day

Life is always more out of our control than we would prefer it to be. Even with the most meticulous planning, the perfect day only shows up now and then.

If we were to have a perfect day every day, it would quickly become just another normal part of our experience. Then we would need a new fantasy to take its place.

Conservative research

Generally, scientists occupy themselves with their longstanding research programs that follow previous ones.

But, this pattern can be disrupted by unexpected breakthroughs as a result of novel experimental findings. Anomalous experimental results lead to a surge in publications about possible interpretations and implications.

Learning rate and limits to learning

Some people take longer to develop the relevant building-block insights to progress in deep subjects like math. The ability to acquire understanding may vary from person to person.

It is highly unlikely that less intelligent people have a limit to deep subjects. The obstacle to learning advanced mathematics is that it may take you longer than a very smart person.

Homo Narrativus

We, humans, seek stories.

We are essentially ‘story finders’ looking for meaning, narrative and shape in everything around us. We tend to not believe in improbable stories and tend to create story threads out of thin air, making them real and believable.

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