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Investments glossary

Gambler’s Fallacy


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Quotes of the day:

Let me tell you something that we Israelis have against Moses. He took us 40 years through the desert in order to bring us to the one spot in the Middle East that has no oil!

— Golda Meir

Also known as the Monte Carlo Fallacy, the Gambler’s Fallacy occurs when an individual erroneously believes that a certain random event is less likely or more likely, given a previous event or a series of events. This line of thinking is incorrect, since past events do not change the probability that certain events will occur in the future.

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