Tim Harford has written a good short book on the being a good data detective; however, we can make it much shorter. Be a skeptic and be curious. The skeptics never takes anything for granted and the curious investor will ask for better answers from your skepticism. This would make for a short book. Harford begins by referencing the old book How to Lie With Statistics by Darrel Huff and tries to address how to avoid statistical traps at a high level.
Harford provides ten rules for being a good data detective are:
1. Search your feelings.
2. Ponder your personal experience.
3. Avoid premature enumeration.
4. Step back and enjoy the view.
5. Get the backstory.
6. Ask who is missing.
7. Demand transparency when the computer says no.
8. Don't take statistical bedrock for granted.
9. Remember that misinformation can be beautiful, too.
10. Keep an open mind.
The key is not accepting what is given you as data and not accepting the conventional wisdom or use of any data.
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