Nothing about that relates to their investment decisions. If I'm in blackjack holding a 19 and I choose not to hit and the next card comes up a 2, was that a bad investment decision?
In extremely basic hi/low card counting, if you had the information to suggest that most of the high cards had already been played, then yes that was a bad decision not to hit or weigh it more objectively to come to the same conclusion.
This is in line with whatever analogy you were going for, and OP, who had information.
This is in line with whatever analogy you were going for, and OP, who had information.