| Legend has it that British Prime Minister Benjamin Disraeli was credited with this phrase which was popularised by Mark Twain. It is no less true in property than in any other application.
If data is tortured hard enough, it will confess to anything. Numbers presented as fact can be persuasive however the interpretation and context of the data is crucial to understanding the appropriate meaning of the analysed data. Investors should seek to understand the underlying inputs and assumptions used to arrive at the conclusions presented, including back-tested data. Marketing hyperbole can be engineered to appear to be statistical fact – but isn’t always.
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