How to Make Money by Going Against The Herd: An Underdog Story

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Over at my buddy, Jon Bales’ site, a compelling read:

“…identify situations where others are overconfident and fragile and put yourself in a position to be the beneficiary if things don’t go their way. That was my approach here, as it is in DFS, but it’s very applicable to many facets of life.”

Full article:

That entry details how Jon faded popular opinion to clean up in the political betting market.

Nobody’s listening when mathematicians play around with formulas in an Ivory Tower context; But use mathematical principles to address issues that people actually care about?

That gets attention.

I’ve covered Jon’s work before and remain impressed by his ability to use data to solve problems.

It’s one of the reasons why everyone should learn statistics. A man that knows numbers and people will never lack for chances to create—and reap—value.

It’s not the winning bet that’s the story here; it’s the thought process behind that wager, the willingness to double-down on opportunities in an uncertain world.

Merry Christmas, folks.

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