The gambler's fallacy is applying past events that have already happened to randomized trials in the future.
This is not the same because outlier movement of macro demographics and financial policy does have an impact on the future. If the stock market were random on a macro scale it would average zero movement.
This is not the same because outlier movement of macro demographics and financial policy does have an impact on the future. If the stock market were random on a macro scale it would average zero movement.