End Quote by Barry Ritholtz

“Another mistaken notion connected with the law of large numbers is the idea that an event is more or less likely to occur because…

— Leonard Mlodinow

“When you understand what’s involved in winning, as do professional gamblers, you’ll tend to bet more during a winning streak and less during a…

— Tharp, Van

Historically, we have always seen reversion to the mean. After stocks have had an unusually great 10 or 20 years, they typically turn in…

— James O'Shaughnessy

If you gamble long enough, you'll always lose -- the gambler is always ruined.

— Michael Crichton

“Random intermittent positive reinforcement can be found in gambling... and bad relationships.”

— José N. Harris

Investing is a probabilistic business. Every once in a while, it's sort of like you're throwing six-sided dice, and anything except a one or…

— Whitney Tilson

Successful investing is anticipating the anticipations of others.

— John Maynard Keynes

Often out of periods of losing come the greatest strivings toward a new winning streak.

— Fred Rogers

When you have a run of games where you keep winning and winning, you know it must end.

— Rafael Benitez

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

— George Soros

At the end of the day, life is a gamble, isn't it? A lot of it is sheer luck.

— John Virgo

Once you adopt a value-investment strategy, any other investment behavior starts to seem like gambling.

— Seth Klarman