Daddy, I Need An Allowance

Daddy, I Need An Allowance

By The Banker | Blog Posts, Personal Finance

Unintended Consequences Parents will recognize the following as the “If You Give a Pig a Pancake” problem, referencing the ubiquitous children’s book about giving a pig the first thing (a pancake) which leads to the next thing (some syrup), which leads to the next thing (a napkin), and so on. For those of you who [&hellip

Become a Money-Saving Jedi

Become a Money-Saving Jedi

By The Banker | Blog Posts, Personal Finance

A friend recently asked me to speak to her company at an informal ‘Lunch and Learn,’ about a common financial problem many of us face, namely “How Can I Save Money?” My initial thought – and some version of this is same thought occurs many times somebody asks me to help with anything[1] – is [&hellip

Red Sox as an illustration of Bayesian Probability Theory

Red Sox as an illustration of Bayesian Probability Theory

By The Banker | Blog Posts

Will the Red Sox win the World Series this year?  What are their chances? What are their chances of going all the way, if they win their first game of the playoffs this Friday? Aha!  I have a chance to apply Bayesian probability theory! I recently reviewed Nate Silver’s excellent The Signal and The Noise: [&hellip

Book Review: The Signal And The Noise by Nate Silver

Book Review: The Signal And The Noise by Nate Silver

By The Banker | Book Reviews, Investing, Wall Street

I took a mandatory course in high school[1] called “Theory of Knowledge,” meant to help us consider ‘How do we know things?” “How do we know things?” turns out to be one of those big philosophical questions – dating from the time of Plato & Aristotle – irritating all of us for the last few [&hellip

Book Review: An Illustrated Book of Bad Arguments by Ali Almossawi

Book Review: An Illustrated Book of Bad Arguments by Ali Almossawi

By The Banker | Book Reviews

We are inundated all day by opinions of friends, family members, frenemies, colleagues, bosses, television commentators, newspaper columnists, radio hosts, political leaders, and ex-banker bloggers all making more or less ridiculous arguments in favor of their worldview. We may frequently sense that they’re wrong, but we can’t quite put our finger on the flaw in [&hellip