According to legend, Thales demonstrated that the visionary philosopher didn't turn to the pursuit of truth for its own sake simply because he was incapable of functioning like any other otherwise successful member of society. He allegedly demonstrated this by investing in olive (or wine) presses before a boom season on the basis of his mathematical predictions regarding the weather and harvest quality for that year. I like to think that Thales then donated that money to charity and returned to an impoverished life devoted solely to astronomical, philosophical, and mathematical pursuits.
Now instead of demonstrating the same thing myself, I'm going to tell you how you can get rich quickly by following Thales lead. According to a vast number of irrefutable recent studies, statistical prediction rules (SPRs) consistently outperform so-called experts in tasks as esoteric as determining the future quality of red Bordeaux wine long before it has finished aging. In other words, it's about time for Robert Parker to step aside. We have conclusive scientific proof that an algorithm renders Parker's refined palate obsolete. (See Trout and Bishop's .pdf article here.)
As it turns out, most folks, particularly the experts who are losing out, find this difficult to believe. So here's how you strike it rich. You develop an SPR and bet against mere mortals. Ideally, you go about this by seeking out some venture capital and founding a company with a futuristic yet classy name. Then you employ several mathematicians, computer scientists, statisticians and bookies. The bookies know who's betting the most money and on what. (Or you could just start with football.) The mathematicians, computer scientists, and statisticians produce your SPR. Now you're done. Bet away and watch the money roll in. Once you've made enough money, you start replacing so-called experts with SPRs. Just think how many companies would pay you for an algorithm that was proven to reduce error rates, cut labor costs, save valuable time, diminish the number of lawsuits filed against them, etc...
I'm probably not the first person to suggest this investment, but neither was Thales the first person to invest in olive presses. If all this is too much work for you, just buy stock in some such company. I'm going to. Oh, and if you strike it rich thanks to this blog, how about sending me a kickback? I accept U.S., Canadian, and Australian Dollars; Euros; Pounds Sterling; and Yen via the PayPal link in the upper left corner. I will also accept an awesome blog design. =)
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