The bull market can’t possibly last another 10 years, right?
Don’t bet against it, according to Nick Maggiulli, who examined what he calls the “investor’s fallacy” in a post on his “Of Dollars and Data” blog.
“With the stellar performance in U.S. markets over the previous decade, it feels like a correction is warranted,” the Ritholtz Wealth Management analyst explained. “However, if you examine the data you will realize that this thinking is just as flawed as the person expecting a tails after seeing five heads in a row.”
He’s referring, of course, to the gambler’s fallacy, which…