“
People who treat stocks like lottery tickets generally have similar odds of winning.
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Hendrith Vanlon Smith Jr.
“
The line between gambling and investing is artificial and thin. The soundest investment has the defining trait of a bet (you losing all of your money in hopes of making a bit more), and the wildest speculation has the salient characteristic of an investment (you might get your money back with interest). Maybe the best definition of “investing” is “gambling with the odds in your favor.
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Michael Lewis (The Big Short: Inside the Doomsday Machine)
“
Putting the principal at risk for the hope of an extravagant return — that’s not wise investing, that’s gambling.
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Hendrith Vanlon Smith Jr.
“
Christians are God's delivery people, through whom he does his giving to a needy world. We are conduits of God's grace to others. Our eternal investment portfolio should be full of the most strategic kingdom-building projects to which we can disburse God's funds.
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Randy Alcorn (Money, Possessions, and Eternity: A Comprehensive Guide to What the Bible Says about Financial Stewardship, Generosity, Materialism, Retirement, Financial Planning, Gambling, Debt, and More)
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I never advise friends to put money in anything,. said Danny. 'It's a no-win situation - if they make a profit they forget that it was you who recommended it, and if they make a loss they never stop reminding you. My only advise would be not to gamble what you can't afford, and never to risk an amount that might cause you to lose a night's sleep
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Jeffrey Archer (A Prisoner of Birth)
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[Han] glared into his mug. Besides, he didn't add, asking Princess Leia for repacement reward credits would mean he'd have to tell her how he'd lost the first batch. Not in gambling or bad investments or even drinking, but to a kriffing pirate.
And then she would give him one of those looks.
There were, he decided, worse things than being on Jabba's hit list
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Timothy Zahn (Star Wars: Scoundrels)
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Nature doesn’t have puts on one side and calls on the other side of the same things, nor does it waste energy betting against the same life it works to cultivate. Nature doesn’t insure high risk gambles by trying to be both the casino and the player. Instead, nature insures capital and profits through a variety of complimentary approaches. At Mayflower-Plymouth we aim to emulate nature in this way with how we approach investing and asset management.
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Hendrith Vanlon Smith Jr.
“
until that girl proves she is the starry-eye girl who adores you and will make your life infinitely better, there is no committed relationship. You are not taking The Tom Brady Gamble. Maybe have some sex. Maybe go on some dates. But you make no emotional investments in the girl. It is just your turn until she proves otherwise. Men are always the gatekeepers of commitment.
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Myron Gaines (Why Women Deserve Less)
“
All you need do is refrain from smoking, drinking and the use of drugs. Eat only wholesome,low-fat foods, with the emphasis on vegetables, grains and fish. Seek work. Work hard. Show up on time. Do more than is expected. Think of ways to make the job efficient. Don't complain. Shave, bathe and wear clean clothes. Be cheerful. Don't gamble. Live within your means. Save. And then, when you have all this in balance, study things of substance. Read to satisfy your curiosity. Don't father children out of wedlock or bear them as a single mother. Exercise. You will find that you will be promoted - perhaps not knighted, but promoted. Is that doesn't happen, look quietly for a better position. Find a husband or a wife whom you love and who has the same good habits. Invest. Assume a mortgage if you must. Teach your children the virtues. And then, having become the means of production, you will own your share of the means of production, and if you do those things, all of which are within your power, you will live your own lives."
They looked at him as if he were an armadillo that has just spoken to them in Chinese. Not having assimilated a single phrase, they all got up and went to the bus.
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Mark Helprin (Freddy and Fredericka)
“
Some people will each start investing more of their salary on ‘their’ house and spending less of it on ‘their’ car or cars only when they start being able to take ‘their’ house to work, funerals, weddings, etc.
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Mokokoma Mokhonoana
“
Before Volcker’s speech, bonds had been conservative investments, into which investors put their savings when they didn’t fancy a gamble in the stock market. After Volcker’s speech, bonds became objects of speculation, a means of creating wealth rather than merely storing it.
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Michael Lewis (Liar's Poker)
“
The line between gambling and investing is artificial and thin. The soundest investment has the defining trait of a bet (you losing all of your money in hopes of making a bit more), and the wildest speculation has the salient characteristic of an investment (you might get your money back with interest).
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Michael Lewis (The Big Short: Inside the Doomsday Machine)
“
What imperialists actually wanted was expansion of political power without the foundation of the body politic. Imperialist expansion had been touched off by a curious kind of economic crisis, the overproduction of capital and the emergence of "superfluous" money, the result of oversaving, which could no longer find productive investment within national borders. For the first time, investment of power did not pave the way for investment of money, since uncontrollable investments in distant countries threatened to transform large strata of society into gamblers, to change the whole capitalist economy from a system of production to a system of financial speculation, and to replace the profits of production with profits in commissions. The decade immediately before the imperialist era, the seventies of the last century, witnessed an unparalleled increase in swindles, financial scandals, and gambling in the stock market.
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Hannah Arendt (The Origins of Totalitarianism)
“
Gambling is throwing money away," Emily said. "Spending hundreds of dollars on clothes you'll never wear is throwing money away. Buying books is an investment in the future."
"Emily's right," Nina said. "Where there are books, there's hope. I have stacks of novels I haven't gotten to yet. It's the best reason to go on living I can think of.
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Julia Claiborne Johnson (Better Luck Next Time)
“
Leverage has the potential to turn a reasonably good investment into disastrous gambling.
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Naved Abdali
“
Investments are not a lottery; if it feels like the lottery, stay away from it.
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Naved Abdali
“
Some take pains to be biblical, but many [Christian financial teachers, writers, investment counselors, and seminar leaders] simply parrot their secular colleagues. Other than beginning and ending with prayer, mentioning Christ, and sprinkling in some Bible verses, there's no fundamental difference. They reinforce people's materialist attitudes and lifestyles. They suggest a variety of profitable plans in which people can spend or stockpile the bulk of their resources. In short, to borrow a term from Jesus, some Christian financial experts are helping people to be the most successful 'rich fools' they can be.
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Randy Alcorn (Money, Possessions, and Eternity: A Comprehensive Guide to What the Bible Says about Financial Stewardship, Generosity, Materialism, Retirement, Financial Planning, Gambling, Debt, and More)
“
Now, it has been independently shown that people hate to lose something more than they enjoy gaining it. For example, they don't mind paying for something with a credit card even when told there is a discount for cash, but they hate paying the same amount if they are told there is a surcharge for using credit. As a result, people will often refuse to gamble for an expected profit (they turn down bets such as "Heads, you win $120; tails, you pay $100), but they will gamble to avoid an expected loss (such as "Heads, you no longer owe $120; tails, you now owe an additional $100"). (This kind of behavior drives economists crazy, but is avidly studied by investment firms hoping to turn it to their advantage.) The combination of people's loss aversion with the effects of framing explains the paradoxical result: the "gain" metaphor made the doctors risk-averse; the "loss" metaphor made them gamblers.
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Steven Pinker (The Stuff of Thought: Language as a Window into Human Nature)
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best definition of “investing” is “gambling with the odds in your favor.” The people on the short side of the subprime mortgage market had gambled with the odds in their favor. The people on the other side—the entire financial system, essentially—had gambled with the odds against them.
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Michael Lewis (The Big Short)
“
Artists, by nature, are gamblers. Gambling is a dangerous habit. But whenever you make art, you’re always gambling. You’re rolling the dice on the slim odds that your investment of time, energy, and resources now might pay off later in a big way—that somebody might buy your work, and that you might become successful.
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Elizabeth Gilbert (Big Magic: How to Live a Creative Life, and Let Go of Your Fear)
“
To fully answer this question, I first need to help you understand the difference between investing (wealth building) and speculating (gambling). Investing is a long-term process with a very high probability of success. Speculating is usually a shorter-term decision in which you are hoping to hit the big one or the long shot.
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Brian Preston (Millionaire Mission: A 9-Step System to Level Up Your Finances and Build Wealth)
“
cause of the financial crisis was “simple. Greed on both sides—greed of investors and the greed of the bankers.” I thought it was more complicated. Greed on Wall Street was a given—almost an obligation. The problem was the system of incentives that channeled the greed. The line between gambling and investing is artificial and thin.
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Michael Lewis (The Big Short)
“
The formula was the same formula we see in every election: Republicans demonize government, sixties-style activism, and foreigners. Democrats demonize corporations, greed, and the right-wing rabble. Both candidates were selling the public a storyline that had nothing to do with the truth. Gas prices were going up for reasons completely unconnected to the causes these candidates were talking about. What really happened was that Wall Street had opened a new table in its casino. The new gaming table was called commodity index investing. And when it became the hottest new game in town, America suddenly got a very painful lesson in the glorious possibilities of taxation without representation. Wall Street turned gas prices into a gaming table, and when they hit a hot streak we ended up making exorbitant involuntary payments for a commodity that one simply cannot live without. Wall Street gambled, you paid the big number, and what they ended up doing with some of that money you lost is the most amazing thing of all. They got America—you, me, Priscilla Carillo, Robert Lukens—to pawn itself to pay for the gas they forced us to buy in the first place. Pawn its bridges, highways, and airports. Literally sell our sovereign territory. It was a scam of almost breathtaking beauty, if you’re inclined to appreciate that sort of thing.
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Matt Taibbi (Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America)
“
Madoff was not inhumanly monstrous. He was monstrously human. He was greedy for money and praise, arrogantly sure of his own capacity to pull it off, smugly dismissive of skeptics—just like anyone who mortgaged the house to invest in tech stocks, or tapped the off-limits college fund to gamble on a new business, or put all the retirement savings into a hedge fund they didn’t understand, or cheated a little on the tax return or the expense account or the spouse.
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Diana B. Henriques (The Wizard of Lies: Bernie Madoff and the Death of Trust)
“
The DRD4 gene has variations called alleles that differ in the number of times a segment of the gene repeats itself. The most common versions are either the 4-repeat allele, which is carried by approximately three-quarters of the population, or the 7-repeat (or more) allele. The presence of the higher-repeating alleles (7 or more) has been shown to be related to reduced sensitivity to dopamine. A reduced sensitivity to dopamine requires relatively more stimulation to provoke the same internal reward. People with at least one allele of 7-repeats or longer are more likely to engage in novelty-seeking or compulsive gambling.
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John R. Nofsinger (The Psychology of Investing)
“
To spend a lot of money on women that you have not had sex with is also a bad idea for a range of other reasons. First, you risk making a woman feel uncomfortable, either by making her feel like she owes you something or by making her feel like a whore because you expect sex in return. Second, it costs too much, so it is not even possible to do this with every woman you want to have sex with unless you are rich. Third, it is a gamble, not an investment, as you are not guaranteed sex in return. Fourth, it makes you look inadequate if you appear to try to impress a woman with your wealth. Finally, it is unnecessary, as most women are not attracted to wealthy males, but masculine males.
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W. Anton (The Manual: What Women Want and How to Give It to Them)
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In nearly all of the country’s nineteen thousand municipalities,117 declining or stagnant property tax revenues, along with mounting costs, have reached crisis proportions. The opioid crisis, the mass shootings, the rising rates of suicide, especially among middle-aged white males, the morbid obesity, the obsession with gambling, the investment of our emotional and intellectual life in tawdry spectacles, and the allure of magical thinking, from the absurd promises of the Christian right to the belief that reality is never an impediment to our desires, are the pathologies of a diseased culture. They have risen from a decayed world where opportunity, which confers status, self-esteem, and dignity, has dried up for most Americans. They are expressions of morbidity.
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Chris Hedges (America: The Farewell Tour)
“
Bank-friendly writers and lobbyists fostered a myth that the economy needed its investment banks to remain solvent to keep the economy functioning. But many former officials, including Bair, SIGTARP‘s Neil Barofsky, and Reagan Administration budget director David Stockman, rejected the claims that public guarantees for reckless bank loans was needed to protect insured depositors. Retail savings and checking accounts were never threatened by the bad gambles that banks made. But this myth had to be promoted in order for Paulson, Geithner Bernanke and other bank protectors to persuade Congress to overrule Bair and make government (“taxpayers”) pay. Their aim was to save the banks from being nationalized, and to protect bankers from being prosecuted for fraud or reining in the exorbitant salaries and bonuses they had given themselves. No attempt was made to change the system that had led to the crash. If
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Michael Hudson (Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy)
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A person can be recognized or granted citizenship on a number of bases. Usually citizenship based on circumstances of birth is automatic, but an application may be required.
Citizenship by birth (jus sanguinis).
Born within a country (jus soli). Some people are automatically citizens of the state in which they are born. Most countries in the Americas grant unconditional jus soli citizenship, while it has been limited or abolished in almost all other countries.
Citizenship by marriage (jus matrimonii).
Naturalization. States normally grant citizenship to people who have entered the country legally and been granted permit to stay, or been granted political asylum, and also lived there for a specified period. In some countries, naturalization is subject to conditions which may include passing a test demonstrating reasonable knowledge of the language or way of life of the host country, good conduct (no serious criminal record) and moral character (such as drunkenness, or gambling), vowing allegiance to their new state or its ruler and renouncing their prior citizenship. Some states allow dual citizenship and do not require naturalized citizens to formally renounce any other citizenship.
Citizenship by investment or Economic Citizenship. Wealthy people invest money in property or businesses, buy government bonds or simply donate cash directly, in exchange for citizenship and a passport.
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Wikipedia: Citizenship
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How exactly the debt should be funded was to be the most inflammatory political issue. During the Revolution, many affluent citizens had invested in bonds, and many war veterans had been paid with IOUs that then plummeted in price under the confederation. In many cases, these upright patriots, either needing cash or convinced they would never be repaid, had sold their securities to speculators for as little as fifteen cents on the dollar. Under the influence of his funding scheme, with government repayment guaranteed, Hamilton expected these bonds to soar from their depressed levels and regain their full face value. This pleasing prospect, however, presented a political quandary. If the bonds appreciated, should speculators pocket the windfall? Or should the money go to the original holders—many of them brave soldiers—who had sold their depressed government paper years earlier? The answer to this perplexing question, Hamilton knew, would define the future character of American capital markets. Doubtless taking a deep breath, he wrote that “after the most mature reflection” about whether to reward original holders and punish current speculators, he had decided against this approach as “ruinous to public credit.”25 The problem was partly that such “discrimination” in favor of former debt holders was unworkable. The government would have to track them down, ascertain their sale prices, then trace all intermediate investors who had held the debt before it was bought by the current owners—an administrative nightmare. Hamilton could have left it at that, ducking the political issue and taking refuge in technical jargon. Instead, he shifted the terms of the debate. He said that the first holders were not simply noble victims, nor were the current buyers simply predatory speculators. The original investors had gotten cash when they wanted it and had shown little faith in the country’s future. Speculators, meanwhile, had hazarded their money and should be rewarded for the risk. In this manner, Hamilton stole the moral high ground from opponents and established the legal and moral basis for securities trading in America: the notion that securities are freely transferable and that buyers assume all rights to profit or loss in transactions. The knowledge that government could not interfere retroactively with a financial transaction was so vital, Hamilton thought, as to outweigh any short-term expediency. To establish the concept of the “security of transfer,” Hamilton was willing, if necessary, to reward mercenary scoundrels and penalize patriotic citizens. With this huge gamble, Hamilton laid the foundations for America’s future financial preeminence.
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Ron Chernow (Alexander Hamilton)
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In the light of the evidence it is hard to believe that most crusaders were motivated by crude materialism. Given their knowledge and expectations and the economic climate in which they lived, the disposal of assets to invest in the fairly remote possibility of settlement in the East would have been a stupid gamble. It makes much more sense to suppose, in so far as one can generalize about them, that they were moved by an idealism which must have inspired not only them but their families. Parents, brothers and sisters, wives and children had to face a long absence and must have worried about them: in 1098 Countess Ida of Boulogne made an endowment to the abbey of St Bertin 'for the safety of her sons, Godfrey and Baldwin, who have gone to Jerusalem'.83 And they and more distant relatives — cousins, uncles and nephews - were prepared to endow them out of the patrimonial lands. I have already stressed that no one can treat the phenomenal growth of monasticism in this period without taking into account not only those who entered the communities to be professed, but also the lay men and women who were prepared to endow new religious houses with lands and rents. The same is true of the crusading movement. Behind many crusaders stood a large body of men and women who were prepared to sacrifice interest to help them go. It is hard to avoid concluding that they were fired by the opportunity presented to a relative not only of making a penitential pilgrimage to Jerusalem but also of fighting in a holy cause. For almost a century great lords, castellans and knights had been subjected to abuse by the Church. Wilting under the torrent of invective and responding to the attempts of churchmen to reform their way of life in terms they could understand, they had become perceptibly more pious. Now they were presented by a pope who knew them intimately with the chance of performing a meritorious act which exactly fitted their upbringing and devotional needs and they seized it eagerly.
But they responded, of course, in their own way. They were not theologians and were bound to react in ways consonant with their own ideas of right and wrong, ideas that did not always respond to those of senior churchmen. The emphasis that Urban had put on charity - love of Christian brothers under the heel of Islam, love of Christ whose land was subject to the Muslim yoke - could not but arouse in their minds analogies with their own kin and their own lords' patrimonies, and remind them of their obligations to avenge injuries to their relatives and lords. And that put the crusade on the level of a vendetta. Their leaders, writing to Urban in September 1098, informed him that 'The Turks, who inflicted much dishonour on Our Lord Jesus Christ, have been taken and killed and we Jerusalemites have avenged the injury to the supreme God Jesus Christ.
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Jonathan Riley-Smith (The First Crusade and the Idea of Crusading)
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Behavioural economists have demonstrated experimentally that in order to get someone to take a gamble or to risk an investment, the potential pay-off must be about twice the potential loss. To get a person to toss a coin to win or lose $10 (students), or $10,000 (wealthy executives), the pay-off has to be greater than or equal to $20, or $20,000.
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Michael Shermer (Heavens on Earth: The Scientific Search for the Afterlife, Immortality and Utopia)
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as fast, efficiently, deeply and cost-effectively as possible. Because we have spent so many pages exploring some of the weaknesses of renewable energy sources, one might think that we are somehow opposed to these energy sources. As we wrote in the introduction, this is not the case. Even though readability prevents us from stating this at every juncture, we wish to categorically state that we support (within environmental limits) all truly low-carbon energy sources and nearly all the energy efficiency proposals we've seen so far. Both of us have even invested our own hard-earned money in renewable energy generation. We will most certainly need a lot more renewable energy, and we are certain that they are being built. The question whether or not renewable energy sources could play a major role in our energy system has already been answered: we know that they will be important sources of energy in the future. The only question is how important. We, of course, hope for the best and are excited about the potential and various benefits of renewable energy, and believe that solar and wind energy are amongst the most important tools for successful climate change mitigation.
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Rauli Partanen (Climate Gamble: Is Anti-Nuclear Activism Endangering Our Future? (2017 edition))
“
The prospects of large, well-established firms have less uncertainty, so their stocks prices are generally more reflective of actual prospects than of optimistic prospects. For example, the business potential of General Electric, Procter & Gamble, and Intel are well known and leave little room for a high degree of optimism and pessimism. For firms with a high degree of uncertainty, optimists tend to set the stock price until that uncertainty is resolved. This resolution usually includes a downward revision of optimism and a decline in the stock price.
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John R. Nofsinger (The Psychology of Investing)
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Small investors typically have had a conventional myth: “stock market is a sick place. All we see are gambling but investment”. In the recent decade or so they have started looking at the market positively in sizable number by getting out of this myth. If there are scams of this nature which could potentially unsettle this welcome change in their perception, this great system of capital market would lose its shine very soon.
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Chellamuthu Kuppusamy (The Science of Stock Market Investment - Practical Guide to Intelligent Investors)
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Augur may be destined to become the web’s answer to gambling prohibition—it will do to the betting man what the silk road did to the drug user—but you'd never know it from talking to the developers of the system.
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Jeff Reed (Ethereum: The Essential Guide to Investing in Ethereum (Ethereum Books))
“
Around $300,000 of the total $600,000 that was raised by Augur's funding team comes from a man named Joe Costello. Costello is a successful tech entrepreneur, known to be one of Steve Jobs' top picks for the new CEO position of Apple itself. Following the smart money isn’t always a dumb idea. Gambling or casino are terms never used by Joey Krug, a young Pomona college dropout, but also Augur's lead developer. He and the small team of just five employees use the term “prediction market.” Due
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Jeff Reed (Ethereum: The Essential Guide to Investing in Ethereum (Ethereum Books))
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Balance your risk portfolio. When you’re going to take a risk in one domain, offset it by being unusually cautious in another realm of your life. Like the entrepreneurs who kept their day jobs while testing their ideas, or Carmen Medina taking a job to protect against security leaks when she was pushing the CIA to embrace the internet, this can help you avoid unnecessary gambles. 7. Highlight the reasons not to support your idea. Remember Rufus Griscom, the entrepreneur in chapter 3 who told investors why they shouldn’t invest in his company? You can do this, too. Start by describing the three biggest weaknesses
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Adam M. Grant (Originals: How Non-Conformists Move the World)
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Crypto (and to some extent DeFi) is more of a gamble than an investment at the moment. But in Las Vegas, the house always wins. The whole point of decentralization is to remove “the house” from the playing field.
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Eugene McKinney (The DeFi Revolution: What You Need to Know About How Decentralized Finance and Blockchain Technology Are Disrupting the World, and How You Can Profit)
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You divide seventy-two by ten and learn that in seven-point-two years you’ll have two million dollars. It works the other way too. Say you have a million dollars to invest and want to double it in five years. You divide seventy-two by five and learn you’ll have to get a yield of fourteen-point-four percent to do it.” “Crazy,” I said. “And this little trick works for any amount you want to invest, from ten bucks on up?” “That’s right.” “Explain it,” I urged. “Why the number is seventy-two and not, say, sixty-four or ninety-three.” Mr. Pettibone shrugged.
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Lawrence Sanders (McNally's Gamble (Archy McNally #7))
“
Is it really safe to invest in stocks? To answer that question, we would really first need to ask ourselves: what is safe after all? More so, what is safe in business? The answer would be “NOTHING”. Here it is – the stark reality: all businesses have their risks and as far as risks are concerned, the stock market is just another kind of business; that is it! All deep-rooted and unbeaten stock market will advise you on the affirmative. Yet the faint possibility remains that you, at the same time, will without doubt happen upon other stock market players who have done pathetically in the stock market. These traders, when their opinion is sought, will not leave a stone unturned in advising you to steer clear of the stock market. Mystified whose advice you should take? Fine, both are correct in their own points of view.
To cross the threshold into well-paid stock market share trading in the marketplace of any place in the human race, it is to a great extent compulsory that you are geared up with the inclusive fluency of the sod above and beyond in receipt of rationalized with the up to date market shifts so that you prefer no less than probable stocks. In essence then can day businesses bear out valuable? If you are in a job in a different place and are unable to have a look at the trade area under conversation well again, it is advisable that you should not make your mind up on daylight trading. You will in point of fact happen upon other forms of trade which do not necessitate your day and night inspection. You in all probability will chew over those as well.
Affecting the traders
It would also be a reasonable word of warning to say publicly that the stock market affects different types of traders differently. There are cases in point of a lot of investors who have become cleaned out. Putting on next to nothing information and gambling into the share market perceiving others producing immense wealth possibly will provide evidence of being hazardous for you. You could wind up bringing up the rear to your richly deserved wealth and habitual failures will very soon plead your case before you to make your way out from the stock market panorama. Stage-managing and putting on unconditional awareness previous to putting money in will certainly twirl the bazaar in your prop up.
Outline your objectives
You will of course call for to outline your objectives and endeavor to come across the varied working expenditure alternatives in the stock market. At the beginning decide on fragile investments with the intention that even though you put on or incur fatalities, you will in next to no time gain knowledge of the ins and outs of the deal. Just the once you are contented, you can settle on volume funds. You in all probability will decide on each and every one of the three dealing preferences, specifically day business, short-term trading and enduring investment. At one fell swoop given your institution of resource of profits is exclusively the stock market; you will be able to broaden the horizons of your venture ambitions to a larger extent, for instance conjecture in mutual funds, money futures, product futures, and supplementary endeavor goods. You can accordingly keep up equilibrium of your ventures and disappointments if a few will by a hair's breadth inconvenience you. Seeking singular venture alternatives will additionally comply to you eloquent which one goes well with you the most excellent and you can in that case put in funds in capacity in the unwritten prospect.
Make the best use of stock market
It often comes to our notice that the stock market if used fine provides us with an exceptionally excellent occasion to put together loads of wealth and in addition utilize the stock market as our principal foundation of revenue. There are also the risks yet the faint possibility remains that risks are everywhere, in every trade.
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sharetipsinfo
“
With gambling or investing, if your gains are quick and easy, you will tend to keep the money in a separate mental account. So, if you subsequently lose it, you won't feel as upset as you'd think if you lost the money you brought to the casino. Yet, they are both pots of currency.
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Coreen T. Sol, CFA
“
Stanley Druckenmiller observed that huge and well-timed gambles were the essence of Soros's genius. Soros was right about the market's direction no more than other traders. What distinguished him was that when he felt a truly strong conviction, he acted on it more courageously. Likewise, Thiel had the guts to act on his understanding of the power law by betting big at the right moments. Because only a handful of startups would grow exponentially, there was no point getting excited about opportunities that seemed merely solid; in venture, the median investment was a failure. But when he encountered a potential grand slam, Thiel was ready to pile his chips onto the table.
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Sebastian Mallaby
“
I watched men win and I watched them lose. They were playing a straight house. Nothing was loaded. The house took its own little percentage and got rich. Money made in bootlegging and gunrunning and dope smuggling and whoremongering was invested quite properly in an entire town that stood as a monument to human stupidity, a boomtown in the state with the sparsest population and the densest people in the country.
Vegas.
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Lawrence Block (Grifter's Game)
“
gambling creates risk while investing/speculating assumes and manages risk that already exists.
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Jim Paul (What I Learned Losing A Million Dollars)
“
There are many reasons for this, which we’ll explore throughout the book. But one is that it isn’t just men who misunderstand their female audiences. Women executives have been schooled in the same conventional wisdom of business that men have. And many find themselves going against their better instincts at work or refraining from putting forth their ideas because they don’t want to cast themselves in the soft pink light of femininity, in case it’s used against them. There is no doubt: the companies who invest in understanding their primary consumer are winning. In the pages ahead, you’ll learn how these companies are changing the rules, dominating their markets, and reinventing their categories. From upstarts such as method and lululemon athletica to titans like Procter & Gamble and MasterCard Worldwide, these mavericks
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Bridget Brennan (Why She Buys: The New Strategy for Reaching the World's Most Powerful Consumers)
“
Norton Simon had lots of money and believed that the $2 million investment to launch a Halston perfume was more than worth the gamble. ‘Of course, it wasn’t my two million,’ Halston said. ‘It was just my name, which is worth a hell of a lot more than two million.
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Steven Gaines (Simply Halston: The Untold Story)
“
What are the differences between investing and gambling, isn't risk taking the currency of both in case you suddenly lose all your hard earned money?
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Mwanandeke Kindembo
“
The best on horses you think will lose are a valuable "insurance policy." When rare disaster strikes, you'll be glad you had the insurance. 71
The exponential growth of wealth in the Kelly system is also a consequence of proportional betting. As the bankroll grows, make larger bets. 98
[2 questions are central to John Kelly's analysis] What level of risk will lead to the highest long-run return? What is the chance of losing everything? 286
As Fred Schwed, Jr. author of Where are the Customer's Yatchs? put it back in 1940, "Like all of life's rich emotional experiences, the full flavor of losing important money cannot be conveyed in literature." 304
Claude Shannon: A smart investor should understand where he has an edge and invest only in those opportunities. 308
The longer you hold a stock, the harder it is to beat the market by much. 316
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William Poundstone (Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street)
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league continued to invest in partnerships with legalized gambling platforms—partnerships that started in 2018 in order to give baseball a slice of America’s new, fast-growing sports gambling industry.
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Keith O'Brien (Charlie Hustle: The Rise and Fall of Pete Rose, and the Last Glory Days of Baseball)
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I don’t regard investing as gambling. I regard it as trying to take care of you and your family for the long term. And you do it by investing similar amounts every year for a long time and living to be old. And then you get to be rich.
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David M. Rubenstein (How to Invest: Masters on the Craft)
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Während der Wissenschaftler stets um den rechten Weg bemüht ist und ihm jeder noch so kleine Fehler ein Dorn im Auge ist, erlaubt sich der Künstler, die ausgetretenen Pfade zu verlassen, die Sache bewusst komplett anders anzupacken und aus den Fehlern zu lernen.
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Collin Coel (Vertrauen im Investmentgeschäft)
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Warren Buffett wird nicht müde zu betonen, dass es an ihm ist, sich selbst die Verwaltung des kleinsten Geldbetrages sehr angelegen sein zu lassen. Und eben darin bekundet sich jenes Verantwortungsbewusstsein, mit dem Staat zu machen ist.
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Collin Coel (Vertrauen im Investmentgeschäft)
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Es reicht, über die Geschäfte des Unternehmens im Bilde zu sein, dank erwiesener Ertragskraft, hoher Kapitalrenditen, niedriger Schulden und exquisiter Produkte beruhigt der Zukunft entgegenzusehen, die Gewissheit zu haben, dass fähige Manager am Drücker sitzen, und in ein Unternehmen zu investieren, das generell hoch im Kurs steht.
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Collin Coel (Vertrauen im Investmentgeschäft)
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If you cannot make a phone call or send an e-mail that will directly influence how a company is run, then investing in that company is like gambling at the casino.
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Joe Pulizzi (Content Inc.: How Entrepreneurs Use Content to Build Massive Audiences and Create Radically Successful Businesses)
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Still he considered playing Pachinko the best investment of his free time, soaking in the local stench and bad breathe of other lonely Japanese people as an alternative way of blending into the colorful local scenes which he yearned to be a part of.
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Vann Chow (The White Man and the Pachinko Girl)
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Just having children is a risk, Kate. We are gambling on the future, investing in the unknown with nothing but hope and blind faith. How can we keep our own safe when anyone else is in danger?
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Florence Engel Randall (The Watcher in the Woods)
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When you play slots in a casino, you pray and hope for luck with each pull – well, that’s not how investment works. Investing is not a type of gambling you can risk your luck into.
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Brayden Tan (What school don't teach you about money)
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Oil and Gas Investing in Permian Basin-Smart Move
As the true scope of Permian Basin is being understood, one thing is very clear; it is going to attract a lot of investment. As in case of all oil and gas investments, the sooner you invest, the better your returns are going to be. Right now is the perfect time for oil and gas investing in Permian Basin. There are a lot of benefits of choosing to invest in things other than the property, shares and stocks circuit. It not just helps you spread out your earnings, it lets you test potential markets such as these. As these markets are not overcrowded, there is more scope for growth.
But why should you choose oil and gas investing in Permian Basin when you have dependable assets elsewhere? The answer is that those assets multiply at such a slow pace that you forget they are there while when there is an oil and gas boom, it turns your fortunes. An oil well investment brings with it years of steady income with the benefit of tax deduction on the investment. It is not as much a gamble as it is made out to be and oil strikes are more frequent than people would like you to believe. About 15% annual income from oil and gas wells is exempt from tax and 65-85% of your first year's investment can be waived off.
Gone are the days when all you could do with oil well was bore increasingly downwards, vertically. Now there is technology available that lets you draw oil supply for a long, long time after the initial vertical bore runs dry. With new advancements in drilling and extracting techniques, a lot of oil that was earlier as good as not being there has suddenly become readily available.
Being with a company that is well equipped with the latest technology gives your investment more stability. That is one of the reasons for a revival of the boom in Permian Basin and it has been predicted to last for a long time to come. Choose with great care a reliable and experienced company that is a seasoned hand at oil and gas drilling and production. Oil and gas investing in Permian Basin is bound to attract many investors looking to be a part of the upward trend. Invest today and reap benefits for years to come.
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Nate Lewis
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The Battle of the Bulge is sometimes characterized as Hitler’s final desperate gamble, the last straw at which he grabbed. Nothing could be further from the truth. The Ardennes offensive was a major and carefully conceived maneuver, not merely to avert the defeat of the Third Reich, but also to administer a decisive blow to the Allies. It was developed long in advance and prepared with exceptional care, respectable ingenuity and considerable investment in human and material resources.
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Ladislas Farago (Patton: Ordeal and Triumph)
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University of California Economics Professor Robert Reich identified six principles of the new populism : 1. Cut the biggest Wall Street banks down to a size where they're no longer too big to fail. 2. Resurrect the Glass-Steagall Act, the law separating investment from commercial banking thereby preventing companies from gambling with their depositors' money. 3. End corporate welfare including subsidies to big oil, agribusiness, pharmaceuticals,
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Anonymous
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What you do with your money in order to satisfy your urge to gamble and to speculate is your own private concern.
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David Schneider (The 80/20 Investor: How to Simplify Investing with a Powerful Principle to Achieve Superior Returns)
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Almost all investors I know, who consider themselves proper investors according to the definition above, like to do the occasional trade, punt on pure speculation. But they do it with money they consider part of their gambling portfolio, or play money. They would never risk their financial well being by mindlessly gambling with their main wealth. What
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David Schneider (The 80/20 Investor: How to Simplify Investing with a Powerful Principle to Achieve Superior Returns)
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Despite the challenges, Coca-Cola succeeded in the end. China has become Coca-Cola's third largest market in the world, after the United States and Mexico. It has invested over $5 billion in China. More important, Coca-Cola has blazed a trail for other foreign companies—Pepsi, KFC, McDonald's, Coors, Budweiser, IBM, Apple, Dell, Procter & Gamble, Walmart, Sheraton,
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Yong Zhao (Who's Afraid of the Big Bad Dragon?: Why China Has the Best (and Worst) Education System in the World)
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Gambling has been fed by knowledge that, if disaster struck, someone else—borrowers, investors, taxpayers—would end up bearing at least some of the losses,” wrote the Economist. At every stop on the securitization gravy train, investment banks generated big fees for themselves. They had no incentive to tap the brakes.
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Danielle DiMartino Booth (Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America)
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the Dutch had improved on the Italian system of public debt (introducing, among other things, lottery loans which allowed people to gamble as they invested their savings in government debt). They had also reformed their currency by creating what was arguably the world’s first central bank, the Amsterdam Exchange Bank (Wisselbank), which solved the problem of debased coinage by creating a reliable form of bank money (see Chapter 1). But perhaps the single greatest Dutch invention of all was the joint-stock company.
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Niall Ferguson (The Ascent of Money: A Financial History of the World)
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Part of the money went for gambling, part for horses, and part for women. The rest I spent foolishly.
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Mel Lindauer (The Bogleheads' Guide to Investing)
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Note that investing, according to Graham, consists equally of three elements: you must thoroughly analyze a company, and the soundness of its underlying businesses, before you buy its stock; you must deliberately protect yourself against serious losses; you must aspire to “adequate,” not extraordinary, performance. An investor calculates what a stock is worth, based on the value of its businesses. A speculator gambles that a stock will go up in price because somebody else will pay even more for it. As Graham once put it, investors judge “the market price by established standards of value,” while speculators “base [their] standards of value upon the market price.”2 For
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Benjamin Graham (The Intelligent Investor)
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Just as sensible gamblers take, say, $100 down to the casino floor and leave the rest of their money locked in the safe in their hotel room, the intelligent investor designates a tiny portion of her total portfolio as a “mad money” account. For most of us, 10% of our overall wealth is the maximum permissible amount to put at speculative risk. Never mingle the money in your speculative account with what’s in your investment accounts; never allow your speculative thinking to spill over into your investing activities; and never put more than 10% of your assets into your mad money account, no matter what happens. For better or worse, the gambling instinct is part of human nature—so it’s futile for most people even to try suppressing it. But you must confine and restrain it. That’s the single best way to make sure you will never fool yourself into confusing speculation with investment.
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Benjamin Graham (The Intelligent Investor)
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You're leaving me?" St. Vincent asked, looking perturbed. "For how long?"
"For good, actually."
As St. Vincent absorbed the information, his pale blue eyes narrowed. "What will you do for money?"
Relaxed in the face of his employer's displeasure, Cam shrugged. "I already have more money than anyone could spend in a lifetime."
The viscount glanced heavenward. "Anyone who says such a thing obviously doesn't know the right places to shop." He sighed shortly. "So. If I'm to understand correctly, you intend to eschew civilization altogether and live as a savage?"
"No, I intend to live as a Roma. There's a difference."
"Rohan, you're a wealthy young bachelor with all the advantages of modern life. If you've got ennui, do what every other man of means does."
Cam's brows lifted. "And that would be?
"Gamble! Drink! Buy a horse! Take a mistress! For God's sake, have a little imagination. Can you think of no better option than to throw it all away and live like a primitive, thereby inconveniencing me in the process? How the devil am I to replace you?"
"No one's irreplaceable."
"You are. No other man in London can do what you do. You're a walking account book, you've got eyes in the back of your head, you've got the tact of a diplomat, the mind of a banker, the fists of a boxer, and you can put down a fight in a matter of seconds. I'd need to hire at least a half-dozen men to your job."
"I don't have the mind of a banker," Cam said indignantly.
"After all your investment coups, you can't deny?
"That wasn't on purpose!" A scowl spread across Cam's face. "It was my good-luck curse.
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Lisa Kleypas (Mine Till Midnight (The Hathaways, #1))
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To me, an investment is simply a gamble in which you’ve managed to tilt the odds in your favor.
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Peter Lynch (One Up On Wall Street: How To Use What You Already Know To Make Money In)
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In betting and gambling games if you stop acting and do nothing, the losses will stop. But when investing, trading, or speculating, if you’re losing and stop acting, the losses don’t stop; they can continue to grow almost indefinitely.
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Jim Paul (What I Learned Losing A Million Dollars)
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The game of professional investment is intolerably boring and overexacting to anyone who is entirely exempt from the gambling instinct; whilst he who has it must pay to this propensity the appropriate toll
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John Maynard Keynes (The General Theory of Employment, Interest and Money AND Essays In Persuasion)
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Most of the traders think and act like gamblers. They believe that they can outsmart the rest of the players with the help of a trading system. They take investing as a game, and daily quotes are their scorecards.
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Naved Abdali
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Just as the gambling industry wants people to think they can beat the casino, the investment industry wants investors to think they can beat the market.
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Taylor Larimore (The Bogleheads' Guide to the Three-Fund Portfolio: How a Simple Portfolio of Three Total Market Index Funds Outperforms Most Investors with Less Risk)
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Openness primes us to tolerate uncertain outcomes. To take risks creatively doesn’t mean you gamble your life savings on a marketing scheme. It means you’re willing to invest time, resources, and cognitive energy into a dream that has an uncertain outcome.
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Jeffrey Davis (Tracking Wonder: Reclaiming a Life of Meaning and Possibility in a World Obsessed with Productivity)
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If you possess something valuable, it's best not to gamble with it, ignore it, or risk losing it. Rather, invest in it and express gratitude for it. By cherishing a good thing, you allow it to reciprocate and take care of you in return.
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Jennifer Pierre (The Hidden Path to Self-Improvement: UNCOVERING THE SECRETS OF A BETTER YOU)
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Day trading is a science, a skill, and a career, and has nothing to do with gambling.
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AMS Publishing Group (Intelligent Stock Market Trading and Investment: Quick and Easy Guide to Stock Market Investment for Absolute Beginners)
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All you need do is refrain from smoking, drinking, and the use of drugs. Eat only wholesome, low-fat foods, with the emphasis on vegetables, grains, and fish. Seek work. Work hard. Show up on time. Do more than is expected. Think of ways to make the job efficient. Don’t complain. Shave, bathe, and wear clean clothes. Be cheerful. Don’t gamble. Live within your means. Save. And then, when you have all this in balance, study things of substance. Read to satisfy your curiosity. Don’t father children out of wedlock or bear them as a single mother. Exercise. You will find that you will be promoted—perhaps not knighted, but promoted. If that doesn’t happen, look quietly for a better position. Find a husband or a wife whom you love and who has the same good habits. Invest. Assume a mortgage if you must. Teach your children the virtues. And then, having become the means of production, you will own your share of the means of production, and if you do these things, all of which are entirely within your power, you will own your lives.
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Mark Helprin (Freddy and Fredericka)