Most of us are not familiar with the odds of finance and it affects our outlook on financial matters.
An example: Flip 100 coins, heads or tails; there is a 75% chance of a streak of 6 or more right calls. And a 10% chance of a streak of 10 or more
Look what this does when we observe analysts and securities’ markets. You hear comments after market closings about events which really reflect randomness. But the comments attribute specific causes that occur only in the minds of the commentators. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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