Confidence is not certainty
5 min read
The stat
If you say 80% a hundred times, about 80 should hit — if you are well calibrated.
What it means
Calibration means your 80% picks win about 80% of the time in a large sample. Your 60% picks win about 60%.
Why it matters
If your 80% bucket hits 61%, you may be overconfident. If your 60% bucket hits 72%, you may be underselling yourself.
Watch out
This is more useful than a raw win-loss record, because two people can both go 6–4 with very different honesty about how sure they were.