Gambler's Fallacy/Writing Secrets/66% returns on investment

	Gambler's Fallacy/Writing Secrets/66% returns on investment Dear all Today I will try to understand Gambler's Fallacy. Gambler's Fallacy is the mistaken belief that, if something happens more frequently than normal during a given period, it will happen less frequently in the future, or vice versa. It is also known as the "Monte Carlo Fallacy" or the "Fallacy of the Maturity of Chances". This belief is false, as the outcome of a random event is not influenced by the outcome of previous events. Here are seven examples of Gambler's Fallacy: A person flips a coin ten times and gets heads every time. They believe that the next flip will be tails, as the coin is "due" for a tails result. In a game of roulette, the ball lands on black for five consecutive spins. The player believes that the next spin is more likely to land on red, as black has already come up too many times in a row. A lottery player believes that a certain set of numbers is more likely to win because they have not been drawn in a long time, assuming the lottery is "due" to draw those numbers. A basketball player believes that they are more likely to make a shot if they have missed several in a row, assuming they are "due" for a make. A blackjack player believes that they are more likely to win the next hand because they have lost several hands in a row, assuming that they are "due" for a win. A person who regularly plays the lottery believes that their chances of winning increase the more they play, assuming that their previous losses increase the odds of a win in the future. A stock market investor sells their stocks because the stock price has gone up for several days in a row, believing that the price is "due" for a decrease. All of these examples demonstrate the Gambler's Fallacy, as they assume that the probability of an outcome is affected by previous outcomes, which is not the case. Each event is independent of the previous ones and the outcomes are determined by chance. **One Video I Enjoyed** Jim Simons is a renowned mathematician and investor. Known as the "Quant King," he incorporated the use of quantitative analysis into his investment strategy. In this video Cooper Academy tried to explain about his strategy to achieve 66% return per year. Jim Simons: How To Achieve a 66% Return Per Year (7 Strategies) https://youtu.be/cm7kkHtZiJA **Two Tweets I Enjoyed and Liked** How to avoid burnout https://twitter.com/matt_gray_/status/1622224066630352897?t=9_n4as9jRuXJ_1Gyc4g8BA&s=19 10 writing secret https://twitter.com/ItsKieranDrew/status/1601549570978336770?t=4JaP220vr7GGVxq2Z6X7dg&s=19 **Three New Websites I Enjoyed and Liked** Transform your text instructions into Excel formulas in seconds with the help of AI for free. https://excelformulabot.com/ Find captions and tags for every occasion and mood https://captionplus.app/ Find Clips in Fave Movies, TV, & Music using phrases https://getyarn.io/ **Three Quotes and Phrases I Liked** Those who make the worst use of their time are the first to complain of its shortness. —Jean de La Bruyère The world itself is never overwhelmed or confused— only we are, due to how we are engaged with it. We can never really be prepared for that which is wholly new. We have to adjust ourselves, and every radical adjustment is a crisis in self-esteem; we undergo a test, we have to prove ourselves. It needs subordinate self-confidence to face drastic change without inner trembling. —Eric Hoffer **Two Write Ups I Enjoyed and Liked** How Important Is Alone Time for Mental Health? In this post author described why alone time is important and how to spend time alone. https://www.verywellmind.com/how-important-is-alone-time-for-mental-health-5184607 45 days of silence - meditating 16 hours a day for 45 days https://www.emmatang.xyz/45-days-of-silence-meditating-16-hours-a-day-for-45-days **One Photo I Enjoyed and Liked** Raising the Flag on Iwo Jima, by Joe Rosenthal of the Associated Press Thanks Xoxo © 2023 Aritra Sarkar