Out With The Old, In With The New
Posted by Phil Aaronson at 9:07 PM
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There are two explanations for this. One is that the CEOs of these companies have the incredible ability to pick the exact bottom of their company's stock price every single time without fail. If this is true, then these men (and they are all men) are probably actually underpaid for their remarkable ability to predict the future, since the odds of choosing the right date every time for all the different companies is something like a quadrillion to one against.Malcolm Gladwell, Game of Shadows:
FloJo had a fantastic year in 1988, which is why she raised so many eyebrows. She wasn’t Beamon. She was Bonds. I think if we’re smart about it, we can learn to distinguish the fluke performances from the phony performances.Essentially the same argument. It follows that any performance which is so statistically improbable, is very probably the result of cheating. But in the case of CEOs, we tend to not give the benefit of the doubt, but in the case of athletes we do.
I take it, from many of the comments on my last post, that virtually no one bought my idea for loosing the forensic economists on sports records.Found via rentzsch.com. One of the many differences between Wolf Rentzsch, and myself: I'm an admitted criminal when it comes to public transportation.