How to Lie with Statistics by Darrell Huff

Summary: The best selling book about statistics of all time. It may not be a very technical book but it gives you good ideas how statistics are manipulated to support an argument. Highly recommended.

Review

A book illustrating common errors made in the interpretation of statistics. Many examples are provided.

Sometimes statistics are misrepresented intentionally. Sometimes they are not. It is important the person at the receiving end of the interpretation do not accept the message as is. That is the main theme in the book.

The author is not a statistician hence his approach is more common sense driven so the book is suitable for anyone interested in the subject.

The concepts in the book will add to your knowledge base on what not to believe when you look at the information on hand. For traders who are doing their own research on historical price behaviour, it is unavoidable that at times we may interpret the statistics we gathered incorrectly. With our common sense kicking in, we can remind ourselves if our interpretation makes sense at all.

A book I highly recommend.

p.s. this book should be available in almost every library

Share