A Quote by Paul DePodesta
In disciplines as disparate as baseball, financial services, trucking and retail, people are realizing the power of data to help make better decisions.
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Coming to the growth potential in financial services, there is enough data to show that, usually, financial services grow about twice or two and a half times of what the economy, the GDP growth rates.
People are trying to build a society where they can talk across the aisle so to speak, and have civil discourse. At the same time we're trying to inform ourselves about what's really true so that we can make evidence based decisions that is better than superstition or rumor. But the fact is that people who use evidence based decision making have much better life outcomes, greater life satisfaction, they live longer, they make better personal and medical decisions, better financial decisions. But parallel to that is you can't reason somebody out of a position they didn't reason themselves into.
If we all make systematic mistakes in our decisions, then why not develop new strategies, tools, and methods to help us make better decisions and improve our overall well-being? That's exactly the meaning of free lunches- the idea that there are tools, methods, and policies that can help all of us make better decisions and as a consequence achieve what we desire-pg. 241
Rising incomes and positive demographics will provide opportunities for retail financial services in India.
I always hear people saying, "If I can just help one person, or if I can just stop one person from doing what I did." I don't think one person is enough. I feel you can help more than one person, help as many as you can. That's something that I would like to leave as my legacy: That I helped a lot of people and made some people make better decisions after looking at the decisions I've made in my life.
All decisions originate in the brain. So if we can better understand what's happening in the brain when we make investment decisions, maybe one day we'll be able to make more accurate financial forecasts - for a stock or even the entire market.
You know what works in venture capital? A group of incredibly smart, connected people who have the financial wherewithal and risk appetite to make multi-million dollar bets on unproven ideas and inexperienced founders. People who can make decisions quickly, and who spend their time trying to help entrepreneurs make the most of that cash.
The future of retail is the integration of Internet and digital services with the retail network.
Whether baseball or football, we're tasked in front offices with making decisions under uncertainty. How do you corral that uncertainty in a way to make more consistently better decisions? That's very similar.
Financial inclusion matters not only because it promotes growth, but because it helps ensure prosperity is widely shared. Access to financial services plays a critical role in lifting people out of poverty, in empowering women, and in helping governments deliver services to their people.
I believe in the power of shared data and technology to help build a better future.
To help other people, you've got to be able to help yourself. You go to a psychiatrist, and they're on this Prozac, Effexor, and antidepressants, you may have picked the wrong person. If you go to somebody who's broke who's selling you financial services, that might not be a good thing. You go to somebody who's fat to help you lose weight... And a lot of people ironically do these types of things.
Many communities have turned a blind eye to what goes on inside funeral homes, as many people prefer not to know the ins and outs of the business. In addition, grieving customers in need of funeral goods and services may not be in a healthy state of mind to make financial decisions.
By any measure, CapitalSource outperformed both our direct competitors and the financial services industry in general, particularly in the context of the near collapse of the financial services industry where 19 of the 20 largest financial institutions in the country either failed or were bailed out by the government.
Intuition is neither the ability to engage prophecy
nor a means of avoiding financial loss or painful relationships.
It is actually the ability to use energy data
to make decisions in the immediate moment.
My motivation has to do with what happened to my family. I want to help young people make important decisions at the most important time in their life. If I didn't do this, it would be like my kids died in vain. I want to help them make the right decisions.
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