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" "The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
Alan Greenspan (born March 6, 1926) is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006 after the second-longest tenure in the position.
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A study of a cohort of 4,800 African Americans born between 1952 and 1982 shows that, as they grew into adults, 69 percent of the cohort remain in the same county, 82 percent remain in the same state, and 90 percent remain in the same region. The figures for the previous generation were 50 percent, 65 percent, and 74 percent.
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