How to Lie with Statistics . . .
- Focus on very recent history
Newspapers often focus on the last few years
in discussing current conditions
On this basis, people would think stock volatility is very high in
recent months . . .
This is incredibly misleading when viewed from the perspective
on the longer history we have available to us
Compare the plots of rolling standard deviations from 2004-
2008 versus the plot from 1928-2008 . . .