I like David Bacon’s musings about the sorts of arithmetic being thrown around a lot in the turbulent financial news these days. He starts out:
I wonder how many people this week realized that “ten percent down” followed by “ten percent up” does not equal “no change.” […]
Indeed,
[tex](1-p)(1+p)\neq 1\ .[/tex]
Read the rest of his quick post here.
-cvj
