Hot Hand Fallacy

Interesting articles on Hot Hand Fallacy:

When good things seem to happen, are they likely to continue or are they a temporary phenomenon only and should not be extrapolated?

http://www.gsb.stanford.edu/insights/jeffrey-zwiebel-why-hot-hand-may-be-real-after-all

www.sloansportsconference.com/wp-content/uploads/2014/02/2014_SSAC_The-Hot-Hand-A-New-Approach.pdf: This article seems to indicate that the "hot hand" is a fact - it exists. And gives proof. Unfortunately, the numerical size of the proof is small. Meaning hot hand increases subsequent events by about 1 - 5%. Not big enough.