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All right folks, we're welcome to Investing for Beginners Podcast. This is episode 73.

Tonight, Andrew and I are going to talk about Wall Street study pitfalls. This is based on a book that Andrew is a big fan of by James

O'Shranacy, and we're going to talk a little bit about some of the potential pitfalls that you may run into.

So we're going to start off by talking about

data mining and I think the easiest way that I could explain this was a metaphor

that James used in the book and he talked about if you're in metaphor that

he talked about if you're in Grand Central Station,

which is obviously a very large place with lots and lots of people around.

If you find a specific area that has, let's say you go into one tube where one of the trains is running and you see 75% of the people there are blonde, then you would be potentially thinking that, hey, everybody in

Grand Sister Station is 75% blonde, and that's not actually the case.

...