Retail investors vs algos: Like lambs to slaughter
Business Standard|October 07, 2024
TRUTH BE TOLD
HARSH ROONGTA
Retail investors vs algos: Like lambs to slaughter
Housing societies' gatherings in the 1980s often featured food stalls and light gambling games. One popular game was 'Lucky 7', played with two dice. Players bet on whether the total would be 'below 7', 'above 7', or 'exactly 7'.

A ₹10 bet on 'below 7' or 'above 7' could win you ₹20, while betting on 'lucky 7' could win you ₹40. Most people bet randomly for fun, winning occasionally. But eventually most lost and quit.

I thought I had devised a clever strategy: doubling my stake after each loss to recover my original bet. I started by betting ₹10 on 'above 7' and lost.

I doubled to ₹20 on the same outcome and lost again. Then, I bet ₹40 and won, leaving me ₹10 ahead. I repeated this process until three consecutive losses forced me to double my stake to ₹80. The stall owner informed me that the maximum stake allowed was ₹40. My strategy failed due to this limit.

この記事は Business Standard の October 07, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Business Standard の October 07, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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