Following the herd is fine until they all run off the side of a cliff together.
We never learn. Every two years we English forget past failures and rally behind our football team in the hope that this time we’ll repeat the success of 66. We never learn do we!
Unfortunately the same mass hysteria applies to short priced favourites and horses that are backed off the boards. Why do we all pile into the so called “good thing” and curse our decision when it gets turned over and the bookies count their cash with a wry smile.
When everybody thinks alike, everyone is likely to be wrong
The Art of Contrarian Thinking – Humphrey B. Neill
Take it from me, when betting you need to part with your emotions and bet systematically to a process or structure.
To do otherwise is equivalent to one who wears glasses driving without corrective lenses. It can be done but things can get blurry and once in a while you might crash.
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Tags: Betting Theory