Gambler's fallacy

Kenny Rogers in The Gambler (1980)

It’s a quietly shocking experience: looking at two solid months on a chart, and noticing a market index seems to go up almost every single day. Surely, this is unnatural—“due” for a correction, right?

Yet even seasoned traders fall into patterns of gut intuition that the math simply shreds on contact.

Donuts, banter, an…