People are also trading
I do persist in getting them mixed up, since I want to think of the hedgehog as prudently hedging its bets with a portfolio of ideas. But I should be more literal than that (not how I usually have to admonish myself):
Foxes are proverbially clever across many cultures (Aesop, Reynard, etc.), with a wide repertoire: stalking, chasing, pouncing, digging, feinting. Hedgehogs have exactly one move: curl into a spiny ball.
Now that I've found the One True Trick for keeping foxes and hedgehogs straight, I think I'm spiritually "know exactly what the reference is" even though I was sort of technically option 2 till a minute a go.
@kmajc wish I'd added one!
if it changes your mind, the first subsection in the essay's wikipedia page is "in business and forecasting"