Fallible wrote:LadyGeek wrote:Yes, it is more correct - I didn't notice the omission. I also changed the wording slightly:
In common gambling scenarios, the gambler's fallacy is a belief that a coin somehow knows about, and will try to fix, the fact that a long coin flipping streak of the same value (such as heads) must end by changing to the other value (tails)...
I most humbly apologize for dragging up the much-belabored gambler's fallacy again, but Fallible made a great suggestion in this first paragraph that didn't seem to get picked up upon, which I highlighted in red above. (She had bolded and underlined.)
The Wiki passage currently reads:
In common gambling scenarios, the gambler's fallacy is a belief that a coin somehow knows about, and will try to fix, the fact that a long streak of the same value (such as heads) must end by changing to the other value (tails).
Without the reference to coin flipping, the passage is a bit jarring, leading a reader to immediately think, "What streak? What coin??"
Otherwise, I think the new Wiki is great. If nothing else, knowing about behavioral risks in investing provides a powerful reason to have a written investment plan.
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri