Thursday, October 06, 2011

Gamble or not

I had a couple comments on investing in the stock market is much the same as gambling at the casino.  Well, I don't really agree.  At the casino there are mathematical odds in-favor or against the player in every position.  Not so in the stock market.  In the market you are making a reasoned choice; maybe your reasoning is good or faulty but the market itself is not inherently, mathematically against you.  

RandomRoger has a great post regarding illegal behavior in the markets.  He suggests that there are always cheats and only some of them get caught.  He's suggesting that it is simply part of life that people are always looking for an advantage.  If they can get an advantage legally, they are called 'good traders'; if it's illegal then they get called 'crooks'.

1 comment:

Don said...

Before we complain about the markets, what about that compilation of crooks known as the U.S. Congress? Now those people could show the idiots on Wall Street a thing or two about cheating!