MENTALLY MULTIPLY NUMBERS BY THEMSELVES Assume you know your multiplication tables up to 10x10. Here's how to compute the squares of numbers from 11 to 100.
A famous finance professor once told us that good diversification meant holding everything in the world. Fine, but in what proportion? Suppose you could invest in every country in the world. How much would you invest in each? In a market-capitalization weighted index, you'd invest in each country in proportion to the market value of its investments (its "market capitalization")....
When estimating the cost of a bunch of purchases, a useful heuristic is rounding to the nearest dollar. (In fact, on US income tax returns, one is allowed to omit the cents). If prices were uniformly distributed, the following two heuristics would be equally accurate: * Rounding each item up or down to the nearest dollar and summing * Rounding each...