The Formula has infinite depth in its efficacy and application.
Rule 1 : You can only get smarter by playing a smarter opponent.
Rule 2 : The more sophisticated the game - the more sophisticated the opponent. If the opponent is very good, he will place his victim inside an environment he can control.
The bigger the trick and older the trick - the easier it is to pull. Based on two principles : They think it can't be that old, or they think it can't be that big for so many people to have fallen for it.
Rule 3 : You will always find a good opponent in the very last place you would ever look.