October 12

DATA SOURCES, RESEARCH FLAWS & OPINIONS…

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An old mentor once said to me something along the lines of, “𝘚𝘪𝘢𝘮, 𝘥𝘦𝘴𝘱𝘪𝘵𝘦 𝘺𝘰𝘶𝘳 𝘣𝘦𝘭𝘪𝘦𝘧𝘴, 𝘺𝘰𝘶 𝘳𝘦𝘢𝘭𝘭𝘺 𝘯𝘦𝘦𝘥 𝘵𝘰 ‘𝘴𝘵𝘢𝘺 𝘪𝘯 𝘺𝘰𝘶𝘳 𝘭𝘢𝘯𝘦’ 𝘰𝘯 𝘤𝘰𝘯𝘵𝘦𝘯𝘵𝘪𝘰𝘶𝘴 𝘵𝘰𝘱𝘪𝘤𝘴, 𝘰𝘵𝘩𝘦𝘳𝘸𝘪𝘴𝘦 𝘪𝘵’𝘭𝘭 𝘩𝘶𝘳𝘵 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴.”

I totally get where he’s coming from and he’s correct. Some of my stances on things definitely have deterred prospects and lost paying clients. But sometimes life is more than just business I guess. Especially things you feel quite strongly about.

Anywho, I thought I’d shine a bit of a spotlight on how I think, how I come to my own conclusions and why I believe it’s a much more logical and methodical approach to researching things, instead of blindly believing the first thing you hear or read. Which, unfortunately, is what the masses do when blindly believing everything the BBC propagates.

𝟭.) 𝗗𝗔𝗧𝗔 𝗦𝗢𝗨𝗥𝗖𝗘𝗦/𝗥𝗘𝗦𝗘𝗔𝗥𝗖𝗛 𝗙𝗟𝗔𝗪𝗦 – Here, I think people are SO myopic and biased towards/away from the source of new information. Especially if it’s data that contradicts your belief system. People will instantly dismiss the data if it’s from a source they deem unsuitable. The negative consequence of this is that you will end up entrenching yourself in a deep echo-chamber of research bias and will find it excruciatingly hard to ever pivot your opinion on something…unless your trusted source eventually pivots.

𝗘𝗩𝗘𝗥𝗬𝗧𝗛𝗜𝗡𝗚 is data and you have to treat it as raw data. So you take the data, analyse it, dig into it and then eventually verify it or debunk it. 𝗜𝗿𝗿𝗲𝗹𝗲𝘃𝗮𝗻𝘁 𝗼𝗳 𝘁𝗵𝗲 𝘀𝗼𝘂𝗿𝗰𝗲. If a lizard-people-believing-flat-earther said that 1 + 1 = 2, it doesn’t mean he/she is wrong. Despite the dubious source.

You’ll learn a LOT more about things more accurately thinking this way instead of letting your cognitive biases hide you from some truths. Also, by approaching things this way, you’ll most likely get a whiff of something incoming from the periphery before the masses do which will then give you an informational ‘edge’. What you do with that is up to you of course. Personally, I use my informational edge for the benefit of my trading, investing and businesses.

For example, a data source entrenched taxi driver will have no idea that his/her job is about to disappear within the next 5-15 years. Most likely sooner rather than later. However, if he/she was active and open minded about research in their field, they would probably be aware of Level 5 autonomy being an inevitability. Most likely quicker for lorry drivers.

𝟮.) 𝗢𝗣𝗜𝗡𝗜𝗢𝗡𝗦 – 𝗜𝘁’𝘀 𝗮𝗯𝘀𝗼𝗹𝘂𝘁𝗲𝗹𝘆 𝗶𝗺𝗽𝗲𝗿𝗮𝘁𝗶𝘃𝗲 𝘁𝗵𝗮𝘁 𝘆𝗼𝘂 𝗿𝗼𝘂𝘁𝗶𝗻𝗲𝗹𝘆 𝗶𝗻𝘁𝗲𝗿𝗿𝗼𝗴𝗮𝘁𝗲 𝘁𝗵𝗲 𝗱𝗮𝘁𝗮-𝘀𝗲𝘁 𝗳𝗿𝗼𝗺 𝘄𝗵𝗶𝗰𝗵 𝘆𝗼𝘂 𝗳𝗼𝗿𝗺 𝘆𝗼𝘂𝗿 𝗼𝗽𝗶𝗻𝗶𝗼𝗻𝘀/𝘀𝘁𝗮𝗻𝗰𝗲𝘀. Most data is like a perishable ice cube. It gets weaker/less relevant over time. So you may have formed the correct conclusion at one snapshot in time, but the world is fluid and therefore your old data and old opinions could actually end up being incorrect or at the worst, hurting you. This is why it’s essential you ensure you ‘check yourself before you wreck yourself’ when it comes to extremely touchy subjects like ConVID.

Now you may read or watch an ‘opinion piece’ from someone else and think that it’s useless to you and that there’s no valid data for you. But you’d be wrong. Even when digesting what you believe to be wrong information from a totally untrustworthy source, there’s mountains of data you can glean from it. It will most likely give you dozens of rabbit holes of research to dig into and you can then verify/dismiss each rabbit hole. But ultimately, you will then understand WHY this person is saying the things he/she is saying and WHERE they are getting their news sources. Sometimes, understanding someone else’s ‘Gap of Misunderstanding’ can prove to be invaluable to you!

Anywho, I found this a fascinating watch which spurred dozens of rabbit holes! Definitely worth watching regardless of stance!


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