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An example of the gambler's fallacy occurred in a game of roulette at the Monte Carlo Casino on August 18, 1913, when the ball fell in black 26 times in a row. This was an extremely unlikely occurrence: the probability of a sequence of either red or black occurring 26 times in a row is ( 18 / 37 ) 26-1 or around 1 in 66.6 million ...
Odds and evens is a simple game of chance and hand game, involving two people simultaneously revealing a number of fingers and winning or losing depending on whether they are odd or even, or alternatively involving one person picking up coins or other small objects and hiding them in their closed hand, while another player guesses whether they have an odd or even number.
Emotional decision-making is a common mistake investors make. According to research, cognitive biases such as herd mentality, loss aversion, anchoring bias and hindsight bias can diminish your ...
Emotional decision-making is a common mistake investors make. Cognitive biases such as herd mentality, loss aversion, anchoring bias and hindsight bias can diminish your ability to make good ...
The misdirection in this riddle is in the second half of the description, where unrelated amounts are added together and the person to whom the riddle is posed assumes those amounts should add up to 30, and is then surprised when they do not — there is, in fact, no reason why the (10 − 1) × 3 + 2 = 29 sum should add up to 30.
Warren Buffett once said you only have to do 'very few things right' in life, as long as you don't do too many wrong things — 3 investing mistakes that can put your retirement at serious risk
“The big money is not in the buying and the selling but in the waiting,” he once explained. With that in mind, here are three stocks that the Munger-style waiting game could work with. D.R. Horton
The problem concerns two envelopes, each containing an unknown amount of money. The two envelopes problem, also known as the exchange paradox, is a paradox in probability theory. It is of special interest in decision theory and for the Bayesian interpretation of probability theory. It is a variant of an older problem known as the necktie paradox.