Short Term Rental Riches 60. Are the Numbers You’re Hearing Real? (And What's a Pro Forma?)
We often hear statistics that seem to be good to be true… and oftentimes they are! Percentages in particular can be the most misleading if we have nothing to compare them to and if the sample size is small. We are targeted by advertisements and they are usually designed with a hidden agenda to sway your opinion or gain your interest. The same thing happens in real estate. Many times this is in the form of a “pro forma.” What’s that exactly? Tune in this week as we unveil how sometimes statistics (and pro formas) are skewed to sway our opinions!
- How percentages can be VERY misleading
- How to effectively evaluate data
- Signs of misleading statistics
- A (misleading) example from Colgate in advertising
- The constant curve of news
- Pro formas (Why you should never base a purchase decision off of one)
Check out “Antifragile” by Nassim Taleb
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