Patsy in the Game | Value Investing News

Patsy in the Game

  • It means that the student continues to believe that coin is fair, even if has landed heads 99 times in a row!
  • A man of “experience, understanding and sophistication” will reason that the probability of the coin being rigged is vasty more than 1 in a 1,267,650,600,228,229,401,496,703,205,376 chance.
  • What are these games in the world of financial markets?
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