Thursday, May 16, 2013

Rolf Dobelli quote (survivorship bias)

Survivorship bias can become especially pernicious when you become a member of the “winning” team. Even if your success stems from pure coincidence, you’ll discover similarities with other winners and be tempted to mark these as “success factors.” However, if you ever visit the graveyard of failed individuals and companies, you will realize that its tenants possessed many of the same traits that characterize your success.” –Rolf Dobelli, The Art of Thinking Clearly