Gamblers play electronic bingo at the Naskila Gaming centre in Livingston, Texas. Psychologists Daniel Kahneman and Amos Tversky found that professionals often seemed to display the “gambler’s fallacy”, believing that a certain event is more or less likely based on a prior sequence of events. Photo: AP  Gamblers play electronic bingo at the Naskila Gaming centre in Livingston, Texas. Psychologists Daniel Kahneman and Amos Tversky found that professionals often seemed to display the “gambler’s fallacy”, believing that a certain event is more or less likely based on a prior sequence of events. Photo: AP 
Gamblers play electronic bingo at the Naskila Gaming centre in Livingston, Texas. Psychologists Daniel Kahneman and Amos Tversky found that professionals often seemed to display the “gambler’s fallacy”, believing that a certain event is more or less likely based on a prior sequence of events. Photo: AP 
Richard Harris
Opinion

Opinion

The View by Richard Harris

Don’t interpret rising US Treasury yields as a sign that a crash is coming

Richard Harris says the psychologically important 3 per cent rate mark for the 10-year US Treasury note may not signal doom and gloom if we look at the bigger historical picture

Gamblers play electronic bingo at the Naskila Gaming centre in Livingston, Texas. Psychologists Daniel Kahneman and Amos Tversky found that professionals often seemed to display the “gambler’s fallacy”, believing that a certain event is more or less likely based on a prior sequence of events. Photo: AP  Gamblers play electronic bingo at the Naskila Gaming centre in Livingston, Texas. Psychologists Daniel Kahneman and Amos Tversky found that professionals often seemed to display the “gambler’s fallacy”, believing that a certain event is more or less likely based on a prior sequence of events. Photo: AP 
Gamblers play electronic bingo at the Naskila Gaming centre in Livingston, Texas. Psychologists Daniel Kahneman and Amos Tversky found that professionals often seemed to display the “gambler’s fallacy”, believing that a certain event is more or less likely based on a prior sequence of events. Photo: AP 
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Richard Harris

Richard Harris

Richard has pioneered Asian investment management at senior levels for companies such as JP Morgan, Citi, BNY Mellon and several start-ups. He has 40 years of experience in a full range of investment and capital markets activities. He is CEO of Port Shelter Investment Management.