3. It is often said that if a trader is right more than 50% of the...

Transcribed Image Text:

3. It is often said that if a trader is right more than 50% of the time then they are doing a good job. A casino lets you gamble on the outcome of a fair coin toss, so that if you wager x pounds you make or lose x pounds according to whether your guess is correct. Can you describe a simple gambling strategy which makes money more often than not. 3. It is often said that if a trader is right more than 50% of the time then they are doing a good job. A casino lets you gamble on the outcome of a fair coin toss, so that if you wager x pounds you make or lose x pounds according to whether your guess is correct. Can you describe a simple gambling strategy which makes money more often than not.