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bull runs

Consecutive Up Days on the Stock Market and the Gambler’s Fallacy

September 22, 2020November 18, 2013 by Vance Harwood

Years ago I was watching the action around an Atlantic City roulette table when I noticed a man taking careful notes.   When I asked what he was doing he said he was looking for long consecutive strings of red or black.  If the run got long enough he was going to bet that the ball on the next spin would land on the opposite color …

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