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418: Using Math to Your Advantage
Podcast: Download
In the long run, math is pretty much always right. That’s why insurance companies are so profitable. They make predictions using the law of big numbers.
Math can predict pretty much anything. Even Sports! I just re-watched the movie Moneyball about how the Oakland A’s made an improbable run in major league baseball in 2002 by leaning less on star players and heavily on analytics generated by a nerdy Yale economics major.
The genius of applying mathematical principles isn’t confined to the boardroom or the baseball field; it seeps into our everyday lives in ways we might not initially recognize. Beyond the high-stakes world of sports and finance, mathematics offers tools that can help us navigate daily decisions and challenges, often without us even realizing we’re employing them.
Math doesn’t just predict outcomes; it helps us make more informed decisions, maximize our resources, and enhance our daily lives. Math isn’t just about numbers and equations; it’s a vital tool that, when applied, can solve practical problems and make everyday tasks easier and more efficient.
And of course, math can and should be used in your investment choices. This week’s guest on the Wealth Formula Podcast explains how to do this and more.
Show Notes:
06:04 Are people bad at predicting the future?
09:10 Can technology help us predict the future better?
11:46 Why is it so hard to predict the future?
14:16 How do Psychics know about your life?
16:42 Base rule
21:02 When should you avoid using math?
22:39 Math for medicine