Comments on: How to be incredibly useful http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful/ Personal finance blog for college students, recent graduates and everyone else -- including entrepreneurship -- for getting rich. Featured in the Wall Street Journal and New York Times. Sun, 12 Feb 2012 18:46:58 +0000 hourly 1 http://wordpress.org/?v= By: VC http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful/#comment-3064 VC Sat, 30 Sep 2006 05:59:32 +0000 http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful#comment-3064 Jennifer, Another great example of spin. Present it any way you like, but the drug companies exaggerate the results of their studies to make them look more favorable. Jennifer,

Another great example of spin. Present it any way you like, but the drug companies exaggerate the results of their studies to make them look more favorable.

]]> By: Amberlynn http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful/#comment-3063 Amberlynn Sat, 30 Sep 2006 04:39:36 +0000 http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful#comment-3063 I've been wondering how to keep my resume alive while I stay at home full-time mothering. "Being useful" will not only keep my resume moving, but also help make connections for when I am ready to enter the career world again. Volunteering part-time at places related to careers that interest me is a perfect way to be useful. I'll be making some phone calls Monday. I’ve been wondering how to keep my resume alive while I stay at home full-time mothering. “Being useful” will not only keep my resume moving, but also help make connections for when I am ready to enter the career world again. Volunteering part-time at places related to careers that interest me is a perfect way to be useful. I’ll be making some phone calls Monday.

]]> By: Jennifer http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful/#comment-3062 Jennifer Fri, 29 Sep 2006 20:52:45 +0000 http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful#comment-3062 I presented a model over the summer that only predicted 9% of the variance in a given population. That's an r of .3. Someone in the audience thought that was HUGE. Know why? If you're analyzing a billion dollar problem, reducing that problem by 9% is equivalent to a lot of money. It may not be a huge chunk of the problem, but it's a huge chunk of money. So . . . even though reducing a person's overall rate of a heart attack by 2.2% isn't solving a huge chunk of the problem, given how many people suffer from heart attacks 2.2% equals saving ALOT of life. It's like investing $10 in a stock that grows 1000% ($100 profit) vs. investing $1000 in a stock that only grows 15% ($150 profit). The rational person would prefer the latter over the former. I presented a model over the summer that only predicted 9% of the variance in a given population. That’s an r of .3. Someone in the audience thought that was HUGE. Know why? If you’re analyzing a billion dollar problem, reducing that problem by 9% is equivalent to a lot of money. It may not be a huge chunk of the problem, but it’s a huge chunk of money.

So . . . even though reducing a person’s overall rate of a heart attack by 2.2% isn’t solving a huge chunk of the problem, given how many people suffer from heart attacks 2.2% equals saving ALOT of life.

It’s like investing $10 in a stock that grows 1000% ($100 profit) vs. investing $1000 in a stock that only grows 15% ($150 profit). The rational person would prefer the latter over the former.

]]> By: WTJ http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful/#comment-3061 WTJ Fri, 29 Sep 2006 18:25:14 +0000 http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful#comment-3061 pen and paper are always very important.. it'll come into handy when u have a pen with you, and also paper for notes (in stead of writing on palm) pen and paper are always very important.. it’ll come into handy when u have a pen with you, and also paper for notes (in stead of writing on palm)

]]> By: VC http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful/#comment-3060 VC Fri, 29 Sep 2006 17:53:19 +0000 http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful#comment-3060 I am familiar with the manipulation of clinical data by the drug companies to make the results appear more impressive than they actually are, such as the "relative VS absolute risk" tactic you present here. I wonder how much statistic manipulation happens with the fund companies. I am familiar with the manipulation of clinical data by the drug companies to make the results appear more impressive than they actually are, such as the “relative VS absolute risk” tactic you present here.

I wonder how much statistic manipulation happens with the fund companies.

]]> By: Transcendental Success http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful/#comment-3059 Transcendental Success Fri, 29 Sep 2006 00:52:38 +0000 http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful#comment-3059 Strange way to solve a problem. You'd think there would be a smarter way than to make it some guy's job to flip cars between spots. Maybe not, you can never put something so dumb past municipal bureaucrats. Strange way to solve a problem. You’d think there would be a smarter way than to make it some guy’s job to flip cars between spots. Maybe not, you can never put something so dumb past municipal bureaucrats.

]]> By: MyNameIsMatt http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful/#comment-3058 MyNameIsMatt Fri, 29 Sep 2006 00:33:03 +0000 http://www.iwillteachyoutoberich.com/blog/how-to-be-incredibly-useful#comment-3058 Adding Barriers to create action. <br /> I thought of a twist to your frequent Remove Barriers comments. Add Barriers to create action. What? Yes, add barriers, or more to the effect of acknowledge the barriers that exist in the future. I've found that this can be a great way to fight procrastination. Give yourself a reason why something is better to do now than later, and stamp it into your consciousness. <br /> I have a tendency for some tasks to push them off, and not really think about the consequences of that. For instance, I can't get myself to buy food during the week from the grocery store. This causes me to spend more money eating out, which costs me more in gas too. The problem compounds when I've got a busy weekend, and don't go shopping then either, and I end up eating out for a week or more. <br /> So, when I think to myself, I need groceries, I make sure to think about what it'll cost not getting groceries now. That's the best friend of procrastination, not considering the future costs of an action. I also try and force myself to do something as an alternative that I might not want to do to motivate me to do what I should now. For instance, I might say that I can't just walk across the street to buy from one of the ten local Chinese restaurants, but I have to go across town. In that case, I'd rather goto the grocery store, and problem solved, unless I'm really craving Chinese like I am now. <br /> Just a thought. I'm trying. Adding Barriers to create action.

I thought of a twist to your frequent Remove Barriers comments. Add Barriers to create action. What? Yes, add barriers, or more to the effect of acknowledge the barriers that exist in the future. I’ve found that this can be a great way to fight procrastination. Give yourself a reason why something is better to do now than later, and stamp it into your consciousness.

I have a tendency for some tasks to push them off, and not really think about the consequences of that. For instance, I can’t get myself to buy food during the week from the grocery store. This causes me to spend more money eating out, which costs me more in gas too. The problem compounds when I’ve got a busy weekend, and don’t go shopping then either, and I end up eating out for a week or more.

So, when I think to myself, I need groceries, I make sure to think about what it’ll cost not getting groceries now. That’s the best friend of procrastination, not considering the future costs of an action. I also try and force myself to do something as an alternative that I might not want to do to motivate me to do what I should now. For instance, I might say that I can’t just walk across the street to buy from one of the ten local Chinese restaurants, but I have to go across town. In that case, I’d rather goto the grocery store, and problem solved, unless I’m really craving Chinese like I am now.

Just a thought. I’m trying.

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