This story of the lucky coin is from my friend @AzevedoWords. I am glad y’all like it.
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All I am saying is there is probably another coin that got 10 tails.. so don’t ride the highs too high because you open yourself up to riding the lows too low.
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I remember the guy who told me about how to turn financial advice cold calls into a broker commission list: Select 100 people and tell half buy, half sell. Call the people you told correctly: half buy, half sell. Repeat 2x. Now you have 6 people who trust your judgement forever.
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This is a classic con that has its roots over a hundred years ago at race tracks. The con man would use this technique to convince the mark that he can pick winning horses. He would then either sell his "winning" system or lure folks in for a longer con.
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Yes I totally agree. But while it’s important people understand that, I think it’s also important that some people don’t and are optimistic of success regardless haha
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Personally I have not talked with coins before, and therefore I can’t comment on whether they are optimistic or not, or how prevalent that optimism is

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The concept of survivor bias is fair. But, the coins first need to be tossed. Any coins just sitting there have 0% possibility of turning up anything after landing.
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The coin just sitting with heads up will be proud of having 100% success with its perfect skill.

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I think this is taking the factor of luck/stats too far. The actions you take do affect your chances, so focusing on what to do seems where it's at. And sure successful people could be just 'lucky' but it's reasonable to think they may have done things to improve their odds.
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Or, more likely - 'successful' people have inherited the means, conditions and opportunity which allow them to be 'successful'.
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Čini se da učitavanje traje već neko vrijeme.
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