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  • feedwordpress 08:01:02 on 2019/05/06 Permalink
    Tags: , , , Flash Crash, , lying, , , ,   

    “There are three types of lies — lies, damn lies, and statistics”*… 


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    Charts

    “Hiding in Plain Sight”

     

    A chart’s purpose is usually to help you properly interpret data. But sometimes, it does just the opposite. In the right (or wrong) hands, bar graphs and pie charts can become powerful agents of deception, tricking you into inferring trends that don’t exist, mistaking less for more, and missing alarming facts. The best measure of a chart’s honesty is the amount of time it takes to interpret it, says Massachusetts Institute of Technology perceptual scientist Ruth Rosenholtz: “A bad chart requires more cognitive processes and more reasoning about what you’ve seen.”…

    Five examples (like the one above) of the kinds of tricks that charts can try to pull, explained: “Five Ways to Lie with Charts.”

    * Benjamin Disraeli

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    As we stack the deck, we might recall that it was on this date in 2010, at 2:32p EDT, that the U.S. stock markets suffered a “Flash Crash”– in a period of just 36 minutes, the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite collapsed and rebounded (the Dow, e.g., lost 9% of its value, then recovered most of it).

    Nearly five years later, the SEC charged a 36-year-old small-time trader who worked from his parents’ modest stucco house in suburban west London with having caused the collapse (using spoofing and layering, along with a form of front-running– all now explicitly outlawed).  But many experts are not convinced; to this day, there are numerous theories– but no consensus– as to the cause(s) of the crash.

    Flashcrash-2010

    The DJIA on May 6, 2010 (11:00 AM – 4:00 PM EDT)

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  • feedwordpress 09:01:05 on 2017/01/19 Permalink
    Tags: An Essay on Woman, , , Fanny Murray, , , John Wilkes, lying,   

    “What’s old is new again”*… 


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    Toward the end of the 1800s, an insane asylum physician in Zurich discovered a surprising tendency among his patients. One, an Austrian maid, had spent years wandering the countryside, claiming to be royalty. A second, an hysterical epileptic, habitually convinced strangers that she was their distant relative. A third, a chronic masturbator, posed as Catholic (he was in fact Protestant), and compulsively pilfered items which he then discarded unused. In 1891, Anton Delbrück summarized his discovery in Die pathologische Lüge, christening the condition pseudologia phantastica, or, as we now say in English, pathological lying. And with that came the emergence of a public health issue requiring large-scale study, and somewhat improbably, widespread concern about an epidemic of dishonesty and even fake news…

    As Mark Twain said, “history doesn’t repeat itself, but it does rhyme”– the tale of the late 19th century “pathological” lying and fake news that plagued the nation: “Shameless Liars.”

    See also: “The Great ‘Fake News’ Scare of 1530.”

    * proverbial gloss on Ecclesiastes 1:9

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    As we deliberate with Diogenes, we might recall that it was on this date in 1764 that English radical, journalist, and politician John Wilkes was declared an outlaw and expelled from the British House of Lords.  Wilkes and Thomas Potter had written a pornographic poem dedicated to the courtesan Fanny Murray entitled “An Essay on Woman,” a parody of Alexander Pope’s “An Essay on Man.”  Wilkes’s political enemies– foremost among them our old friend John Montagu, 4th Earl of Sandwich—  obtained the parody. Sandwich had a personal vendetta against Wilkes that stemmed in large part from embarrassment caused by a prank of Wilkes involving the Earl at one of the Hellfire Club‘s meetings; he was delighted at the chance for revenge. Sandwich read the poem to the House of Lords, which declared the poem obscene and blasphemous. The Lords moved to expel Wilkes.  He fled to Paris to avoid a hearing, but was tried and found guilty, in absentia, of obscene and seditious libel.

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  • feedwordpress 08:01:47 on 2014/07/17 Permalink
    Tags: A.A. Fair, , Erle Stanley Gardner, , liars, lying, Perry Mason, ,   

    “All Cretans are liars”*… 


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    A recent psychological study suggests that, while fibbing is a pretty universal phenomenon, a small proportion of the population are responsible for the vast majority of lies told in the U.S. and the U.K.  The British Psychological Society reports on the results– and the epistemological issues they raise…

    Epimenides, a Cretan

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    As we ask after Diogenes, we might send procedural birthday greetings to Erle Stanley Gardner; he was born on this date in 1889.  An attorney, Gardner applied his legal skill to writing detective fiction; working under his own name and a set of pseudonyms (A.A. Fair, Kyle Corning, Charles M. Green, Carleton Kendrake, Charles J. Kenny, Les Tillray, and Robert Parr– and to a self-imposed quota of 1,200,000 words per year– he is best known for his Perry Mason series, which went on to become first a radio, then a television series.  His books have sold over 200 million copies in 30 languages.

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