The simple maths error that can lead to bankruptcy

Good article on the flaws of human bias...

One good point of the article was the misconception of patterns and prediction. It reminds me of how people fail to realize that the game of roulette is totally random as one example. Although some casinos will list previous winning numbers or colors, the bet is not about the pattern. The probability of a specific number or color mathematically resets every time there is a new spin of the wheel.