Gary Connolly: Why we shouldn’t always study the winners
If an investment looks too good to be true, then go with your gut instinct every time
In 1943, the American statistician Abraham Wald was asked to advise the US Air Force on how to reinforce their planes. Early in World War II, the British commanders had begun to examine planes that had returned to base after being shot and damaged during bombing missions.
The thinking was that the patterns and location of bullet holes on these planes would provide valuable information about how to protect them better during the ...
